It may only seem like yesterday that Apple launched the iPhone 4S, but the next version of the iPhone is already gearing up for the assembly line.

Apple news site 9to5Mac is citing sources at the Foxxconn manufacturing facility as reporting that the iPhone 5 will soon begin production.

Apple's top manufacturing partner is said to be readying its factories for the first stages of assembly.

If true, the report would put the next version of the iPhone on pace for arrival in most markets by the summer.

A June or July release would be in line with Apple's pattern of unveiling its new iPhone models early in the summer and then releasing the handsets to consumers several weeks later.

Of course, Apple could also decide to push the release back by a month or so in order to unload a bit more of its iPhone 4S stock.

After being delayed by several months, the 4S is still selling extremely well for Apple and the company might want to extend its run a bit longer, especially after the firm announced bumper financials for the previous quarter.

This included the sale of a staggering 132 million iPhone devices.

26 Jan 2012