This is just a rumor for now, but it makes sense given the likely September announcement. According to a report from Morgan Stanley analyst Katy Huberty. In a report to clients, (via AppleInsider) she said, "Apple's next iPhone will begin production in mid- to late-August and ramp aggressively" into Q4 of the calendar year. She also adds that the manufacturing begins in time for the expected September launch and announcement.
Adding to that, she mentioned the rumored Apple-branded TV and the lower-priced iPhone. We're still not sure about the TV thing ourselves, but hey, some people didn't think a phone with no keyboard or a "giant iPod touch" would sell, either.