It is being reported that the iPhone 5 or 4S, whatever they are going to call it, is now going to be released on October 7th. Previously it was reported that the next generation iPhone would be out on September 7th.

Apple's next generation iPhone, be it an iterative "iPhone 4S" or a completely revamped "iPhone 5" could go on sale October 7 in the US. That's a Friday, which isn't uncommon for iPhone launches. Originally it sounded more like a second week of October launch, more like October 14, but now it sounds like the first week. We're still hearing that an "iPhone 4S"-style device, with improved processors and optics, is more likely than an all new design, but given the many and varied rumors, it's impossible to tell for sure. It could even be that the "iPhone 4S" is the budget iPhone Apple supposedly completed work on just before WWDC 2011 (the iPhone nano, so to speak), and the "iPhone 5″ is the new high-end model. That could explain the supposedly conflicting rumors.

Source: New iPhone on October 7, no new iPad until spring 2012