What could be better to brighten your day than a report saying the iPhone 5 is on it’s way? China Times claims they have knowledge about the next iteration of the iPhone. They report that the iPhone 5 is currently in trial production and will be in full production by Q3 2011 – roughly June or July. This means that if Apple sticks to current release patterns and announces the iPhone 5 in June, we could see very constrained supply at launch day. Big surprise.

If the China Times report is accurate, this could easily lead to one of two things. A later launch date, such as late June or July, in order to allow for iPhones to be produced is a likely possibility. However, Apple may stay with the traditional launch time – early June – which would leave us with a shortage of the iPhone 5, similar to the shortage we are seeing right now with the iPad 2.

The report also confirms what we had already heard from other sources about the iPhone 5. It claims:

“in addition to shift to the metal chassis to improve antenna sensitivity, but will scratch resistant with 4-inch capacitive touch screen.”

Later, they mention that the iPhone will include NFC technology, as well as the same duel-core processor that is found in the iPad 2. However, we will be seeing the same “500 million pixels camera” with no upgrade there. Not that it was too shabby to begin with.

China Times also mentions the upcoming Foxconn manufacturing plant, which will start manufacturing for Apple in 2013 – located in Sao Paulo, Brazil. The new plant should ease the demand for upcoming iDevices – except we won’t see the effects until about the time we all get in line for the iPad 4 and the iPhone 7.

You can see the translation of this China Times report here.