Industry insiders point to September for iPhone 5 announcement

Excitement is building over the impending announcement of the iPhone 5, with industry insiders predicting that the long awaited moment will take place in just over a month's time on September 12.

American media corporation Bloomberg is reporting that two of their Apple sources confirmed the date, while Reuters is also claiming to have received the same information.

The newest iteration of the iPhone will be the first to be released since the 4S in October 2011, and the first complete redesign since the fourth edition model which entered the market in June 2010.

Amongst the rumoured features are a larger screen, a repositioned camera and a smaller dock connector, but the exact specifications are still unconfirmed.

With so many exciting smartphones on the market, now is a good time to compare phone plans and lock in the best mobile plan available to make sure you are not overpaying on your monthly bills.

The iPhone 5's biggest competition will be the impressive Samsung Galaxy S3, and critics will be eager to find out how the two models stack up against each other.

Posted by Eve Gillespie