Or is there a new iPhone 4 on the cards instead?
Apple has announced it will be holding an iPhone-related event at its Cupertino headquarters in Califorinia next week.
The iPhone-maker emailed the invite, pictured below, to reporters in the US. The event is due to start at 10am PST on 4 October.
While the invite does not specifically refer to the iPhone 5 - saying only "Let's talk iPhone" - gadget punters everywhere will be hoping the event finally puts the many iPhone 5 rumours to bed.
Apple's invites typically include a clue to what will be unveiled. This invite appears to give little away - denoting only the date, time and place of its forthcoming iPhone event. At a stretch the missed call alert on the illustration - and the word "talk" in its text - could indicate voice calling is a focus. Or they could just mean Apple's going to talk about its new iPhone.
On the voice calling front the iPhone does have room for improvement. The current generation of Apple's iPhone - the iPhone 4 - suffered a setback shortly after launch when it emerged that holding the edges of the device could interfere with the signal reception and lead to calls being dropped. The problem - which became known as the 'iPhone deathgrip' and 'Antennagate' was down to the design of the antenna - running around the edges of the handset.
Apple responded by updating the iPhone's software and issuing iPhone 4 owners with free bumpers, saying that using the cases mitigated the reception issue.
Will the next generation of the iPhone include design chances to resolve any lingering reception problems? Stay tuned to silicon.com - we'll be bringing you all the iPhone 5 news as we get it.