The new iPhone, which is expected to have a new body design, will be released at almost the same time as last year when the iPhone 4S was launched.
As for the basis of this assumption, Munster claims he's getting information from several sources which he has not named.
The iPhone is still Apple's best selling product, accounting for more than half of the sales percentage of the company in the last quarter of 2011. Munster further thinks that how Apple will reinvent or improve the iPhone will certainly give clues as to where the company could be headed in the future.
Currently, the iPhone has led all innovations in their products - where new features of the latest generation is passed on to the upcoming models of the iPad and the iPod Touch.
While there is no solid rumors yet as to what the new iPhone 5 could offer, except for the usual upgrade in hardware speed, a lot of Apple supporters are nonetheless excited to see what the next generation of Apple's smartphone would be.