Cape Town - As speculation mounts about the new iPhone, a source has apparently confirmed the device's launch date.
TechCrunch reported that a Verizon employee indicated the next generation of Apple's mobile phone will launch on 21 September.
While Apple fans are expecting the company to deliver an updated iPhone, Samsung has extended its lead in the smartphone market, selling 90.4 million mobile phones during the last quarter, an increase of 29.5% compared to the same three-month period a year earlier, according to market-tracker Gartner Research.
Smartphone sales have been booming and companies have targeted Asian markets that are rushing to adopt the devices.
While Apple remains popular in developed markets, it has been on a downward trend in China, analysts have said.
"Apple isn't going to rule China, simply because of the limited models they have and the price points they target," said TZ Wong, an analyst with IDC.
Cheap smartphones that sell for less than $200 have made up over 40% of sales in China.
"The sweet spot of affordability in China is $130 - $240," said Michael Clendenin, managing director of Shanghai-based consultancy RedTech Advisors. "The 'Lao Bai Xing', or man in the street, is going to go for these mid-tier phones."
Apple will look to existing customers to upgrade their iPhones to help boost sales as the company also fights lawsuits from Samsung and Motorola on patent infringement.
It is unclear whether Apple will name the new device the "iPhone 5" or just "iPhone" as it did with the latest iPad.