“Analyst Shaw Wu with Sterne Agee said in a note to investors on Monday that his checks with sources in the Asia-Pacific supply chain indicate that the new iPhone expected to be released this fall will be an ‘interim upgrade,'” Katie Marsal reports for AppleInsider. “Specifically, he expects the phone to sport a faster processor, better camera, and the new iOS 5 software.”

“That aligns with various reports that have characterized the fifth-generation iPhone as a relatively minor update, dubbed by some the ‘iPhone 4S,'” Marsal reports. “As for an iPhone sporting high-speed LTE 4G data, Wu said he’s heard from sources that such a device is ‘more likely’ to arrive in 2012… Wu also said Monday that his sources have indicated a third-generation iPad is “more likely” to launch in 2012 as well.”

Read more in the full article here.

[Thanks to MacDailyNews Readers “Fred Mertz” and “Lynn Weiler” for the heads up.]