Radically Redesigned iPhone 5 Rumored For Fall 2012

Apple will look to maintain its usual one year gap between device launches and not delay it, as it could otherwise risk losing some customers to a fleet of Google's Android smartphones released on time in the highly competitive market.

Source: http://www.forbes.com/sites/greatspeculations/2011/12/30/radically-redesigned-iphone-5-rumored-for-fall-2012/

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