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If you can hold your breath for three months, start doing so now: Bloomberg says that Apple (Nasdaq: AAPL  ) will introduce the iPhone 5 in September.

Estimates of the new iPhone's arrival are a dime a dozen, but Bloomberg has a history of nailing its Apple leaks, despite relying on anonymous sources. For example, Bloomberg correctly called the appearance of the mythical white iPhone 4 a few weeks early, and pegged the Verizon (NYSE: VZ  ) iPhone's debut within a margin of a couple of weeks -- six months in advance. So when Bloomie drops Apple nuggets, geeks and investors alike have reason to listen.

The iPhone 5 is expected to look a lot like the iPhone 4, says Bloomberg's sources. The Apple-designed central processor will be faster, of course, while the camera gains detail. You'd expect no less from a next-generation smartphone, after all.

The report doesn't talk about shifting component suppliers, whether by omission or a genuine lack of news. Apple isn't in the habit of kicking out reliable suppliers on a whim, so I suppose it's safe to assume that Cirrus Logic (Nasdaq: CRUS  ) will continue to make a mint on iPhone-related audio chips, while OmniVision Technologies (Nasdaq: OVTI  ) should remain the camera sensor guru of choice.

There's also no word on whether Apple will produce one Verizon-compatible model and one that works on the AT&T (NYSE: T  ) network standard, or simplify down to a single, dual-mode model. High-speed LTE standards are not mentioned, but it's a safe bet that Apple would rather wait until the networks fill out their 4G coverage maps. Near-field communications, or NFC, functionality might also have to wait until 2012, which would delay the rising fortunes of NFC specialist NXP Semiconductors (Nasdaq: NXPI  ) .

So Bloomberg leaves unanswered most of the questions we really wanted to explore. Still, a September launch date with a vague outline of the device is better than nothing at all. Oxygen is overrated anyway.

To ensure you don't miss a beat in the iPhone saga, make judicious use of our Foolish watchlist feature. Just click here to seed your watchlist with a whole basket of supposed iPhone 5 participants, and you'll be good to go.

Fool contributor Anders Bylund holds no position in any of the companies discussed here. The Motley Fool owns shares of Cirrus Logic and Apple. Motley Fool newsletter services have recommended buying shares of Apple, AT&T, and NXP Semiconductors, as well as creating a bull call spread position in Apple. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. You can check out Anders' holdings and a concise bio if you like, and The Motley Fool is investors writing for investors.

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