Think about it. It's been over a year since the iPhone 4 came out. Competition from Android and other competitors is growing fast. People have been anticipating a redesigned iPhone for months, and imagine the disappointment that would come when they announce a lame "iPhone 4S". Would they really do that, knowing people will use their upgrades on the 4S, and then release an iPhone 5 only a few months later? I think that would anger customers/fanboys even more. If there truly are production delays, I think they should wait until the iPhone 5 is ready and release it at the same time as the 4S, even if we have to wait a few more months.