Apple may delay the launch of the much-anticipated iPhone 5 until September or even some time next year, according to recent reports.

“Any launch is likely a very late 2011 or more likely a 2012 event,” Avian Securities said in a note reported by BusinessInsider.

Apple has even yet to release a production roadmap for iPhone 5.

Meanwhile, shipment volumes of iPhone 4 are mounting and suppliers “are not yet ready to shift their production lines for new products,” according to a report from DigiTimes.

Suppliers have yet to be given a timetable to halt current production of the iPhone 4 and then prepare the production of the iPhone 5.

Apple may be coming up with a lower price tag and/or iPhone model with lower specifications, Avian said.

There is also speculation that Apple will overhaul the iPhone 5 and designs are not complete, DigiTimes adds.

The delays are also blamed on shortages of components.

CNET said still Apple may be thinking about what materials to use on the back of the iPhone 5, “possibly replacing the hardened glass with a metal backing.”

There are many other rumors about the features to be found on the iPhone 5.

Apple may enlarge the size of the device from 3.5 inches to 4 inches. The larger size may mean the new device would have a different resolution, CNET said.

The increase in screen size will allow the new device to compete with the Google Android platform in the 4- to 7-inch smartphone market, DigiTimes said.

CNET also reports that the new device may also have a near field communications (NFC) chip for mobile payments, enhanced voice controls, and support for 4G LTE and WiMax. A new camera is also possible, maybe from Sony, CNET said.

Apple has usually launched its new versions of the iPhone in June or July, DigiTimes said.

Apple sold a record 16.2 million units of the iPhone 4 in a recent quarter, according to a report from CNET.

TechZone360’s Carrie Schmelkin reported that the iPhone 5 could have a faster speed than the iPhone 4, making it more competitive with devices from rivals.

“According to recent reports, on average, the Android loads Web pages 52 percent faster than the iPhone 4,” she said.