BGR is reporting that Apple will launch the completely redesigned next generation iPhone in fall 2012, around the same time frame (October) when iPhone 4S was launched this year. Jonathan Geller posted on BGR:

We have also learned that Apple is planning to use a rubber or plastic material — similar to the material used in the company’s bumper cases — that will be built into the new iPhone case. In all likelihood, this material will be used as a bezel surrounding the front edge of the phone (like the iPhone 3GS bezel) and it will serve two purposes. First, it will join the glass iPhone face with a new aluminum back plate. It will also cover a redesigned antenna system that surrounds the device, allowing Apple to build the rear case out of aluminum without having to use a large plastic insert above the antennas as the company does on its iPad 2 Wi-Fi + 3G.

We have been hearing the completely redesigned iPhone 5 rumors, but we are also hearing that Apple will revert back to their summer iPhone launch schedule. iPhone 4S launch was mainly delayed because iOS 5 was not completely ready with new features like Siri. It had nothing to do with change in launch schedule.

Also, Apple introduces new iPhone hardware in summer so that they can ramp up production by holiday season. With iPhone 4S there was no major redesign involved and so ramping up production wasn’t a big deal. But iPhone 5 will see a complete redesign because of which Apple will launch it during summer 2012. Only thing that can delay iPhone 5 launch in summer of 2012 is the upcoming second generation LTE chip that Qualcomm will ship in Q2 2012.