Apple didn't announce an iPhone 5 today, but IHS iSuppli expects that Apple will introduce an LTE-capable iPhone 5 when an affordable chipset solution allowing a thinner form factor is available. The iPhone 5 most likely will arrive in late 2012, or in mid-2013.
Apple rolled out the iPhone 4S, an incremental update of the existing iPhone 4. This confirms the IHS outlook issued in July that the new iPhone introduced by Apple in 2011 likely would not include the next-generation 4G technology known as Long Term Evolution (LTE).
Given the success of the iPhone 4, Apple’s incremental approach to upgrading the line makes sense. Furthermore, with the speeds the iPhone has attained with the existing 3G standard known as High-Speed Packet Access (HSPA), there is no appreciable benefit to adopting LTE, especially given the current spectrum and uplink speed constraints for LTE.