Apple is said to be slowing the production of their current iPhone 4 and iPhone 4S models. This is, of course, due to the greatly anticipated launch of the new iPhone 5 (or whatever it will end up being called). Its said that the production is being slowed by about 25% which is pretty noteworthy.
It is always a good sign of an upcoming release by Apple when sales of their products appear as well as liquidations of existing models. We have seen this recently at Best Buy electronic stores in the United States. Unfortunately, it is very unlikely to see any dorp in price for the current iPhone models - at least until the announcement of the next generation.
Naturally, sales are down for iPhones. We can speculate that this is due to the imminent launch of a new device. This of course doesn’t mean a decrease in demand for iPhones themselves.
As for the release date, no one can be sure at this point. Rumors are flying around for a late September, early October time frame. But until Apple send out keynote invitations to developers, its extremely hard to make a guess.