Don’t you just love it when an analyst opens their mouth on anything to do with Apple gear and the speculation starts flying? Today we have some new speculation on the production and release of the iPhone 5.

According to an article over on Macrumors, Business Insider is reporting that an Avian Securities analyst says that “key component suppliers” say that production of the next-generation iPhone, what is currently being called the iPhone 5 will commence in September.

Therefore, if iPhone 5 production doesn’t start until September, then the next iOS smartphone won’t be releasing in June/July, nor will it make it to shelves in August/September as previously rumoured, but will apparently not see release until sometime later this year or more likely in 2012.

Here’s what the analyst note says… “Supporting out comments over the last month, conversations with yet another key component supplier indicates that production for iPhone-5 will begin in September. This is consistent with Avian findings in the supply chain in recent months and we believe the consensus view is moving towards this scenario.”

However, the note does go on to say that Apple does have a lower specification iPhone, which will have a lower price in their roadmap, although there are no other details on this iPhone.

So depending on who you believe, and to be honest when it comes to Apple gear the only people you can really believe is Apple themselves, it would appear that there will be no iPhone 5 this year, does that annoy the iPhone faithful out there who are expecting the device to hit later in the year?