The next generation of the iPhone is coming in September, according to Reuters.com. Rumors were floating that had Apple announcing its newest phone in June, as it normally does, but now it looks like production of the new iPhone will begin in July or August and the device will start shipping in September. It is expected to look similar to the iPhone 4, but include a faster processor.
Mashable notes that other rumored upgrades to the iPhone 5—if in fact, that's what Apple is calling it—include a better camera and bigger screen.