We don't even know its name. Some call it the iPhone 5, others call is the iPhone 4S. However, rumors are surfacing saying that the new handset will ship on September 7th, 2011. That report comes from the International Business Times.
If the rumors are true, the handset will be loaded with iOS 5 day one. Also reported, is that Apple will hold off on the next generation of iPods in order to give the iPhone 5 its own launch. We can't speak for other consumers, but we don't feel that they are part of the same market. Anyone with an iPhone doesn't really need an iPod touch. Anyone with an iPod touch usually got it because it offers many of the apps and features found on the iPhone, but without a cellular plan.
September has been the date for some time now, as we heard months ago that it was likely that we wouldn't hear about the new iPhone at WWDC '11. That report turned out to be true as Apple made no mention of upcoming hardware.