iPhone 5 Release Date: Official Launch Date To Be Revealed August 7 in Keynote Speech

Apple will reveal the launch date of their highly anticipated mobile device on August 7, according to latest reports. An early August Apple event will unveil the device to the world and announce the official release date, according to Know You Mobile, which cited a "reliable industry source who wishes to remain anonymous."

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The claim matches earlier "leaks" that stated Apple had decided to move their release date forward from October to August due to the threat coming from the Samsung Galaxy S3. The worldwide reception of Samsung's latest generation Galaxy S phone has surprised Apple, who allegedly now believe an earlier release date is required to counter the huge draw of customers to Samsung.

However, it has been highlighted by numerous analysts that an early August release date might not suit Apple, as a huge number of Apple customers would not be far enough along in their current two year contracts to upgrade to the new device. That could damage Apple's release date sales, and may be enough to convince their bosses to look for a later release date for their landmark smartphone device.

Apple ordinarily refuses to release any official information regarding their new devices, and like to allow leaks and rumors to help raise expectation and profile for their latest technologies.

The latest news of the release date come as alleged sample shots were obtained by GottaBeMobile.com, which has reported that the engineering samples were handed over from a reliable source in a China factory. If the source does in fact prove reliable then the iPhone 5 would have a larger screen similar to a widescreen 16:9 aspect ratio.

Other reports also claim that Chinese retailers are already offering pre-orders for the iPhone 5. According to Reuters a website called TaoBao is offering Apple fans the chance to reserve the iPhone 5 on a page that displays mock-up pictures and unconfirmed specifications for the new smartphone. According to the Reuters' report TaoBao is China's largest e-commerce platform, and its listing offers the new iPhone at $8600.