Good news for all Apple maniacs out there! Start saving now and add this to your wish list for Christmas for Apple takes another leap as they start cooking iPhone 5 and will be on production before the end of third quarter. If their schedule goes as planned, most likely by as early as 2012’s first quarter – iPhone 5 will be out in the market and once again will be considered as one of the hottest items in the mobile industry. However, since it looks like that Steve Jobs is up for a fight against the leading competitor – Android – so anything can happen on the day they start on production and before the planned market date and who knows, he might push iPhone 5 to be released out in the market before Christmas.

According to Jay Yarow’s report – Tech editor of Business Insider, Apple will start on production by September. The report came from Avian Securities on 11th of April. On their report, they said that Apple’s iPhone 5 won’t be on the market by the end of this year. The reason behind this is Apple’s also developing a new low-cost iPhone that which intend to go on head-to-head with Android. It’s pretty obvious that Apple is only next to Google in terms of revenue so in order to beat or at least neutralize the competition; Apple is trying to create new ways like the plan of making cheaper new phones.

As of the moment, there’s no official report on what’s new or what is expected to be included on iPhone 5 and the only confirmed report is that they have two major plans for the coming months especially starting this year’s third quarter: (1) iPhone 5; (2) iPhone “Nano”.

Here is the full note conversation between Apple and the so-called “key component supplier”

Supporting out comments over the last month, conversations with yet another key component supplier indicates that production for iPhone-5 will begin in September. This is consistent with Avian findings in the supply chain in recent months and we believe the consensus view is moving towards this scenario. In addition, our conversations also indicate the existence of a lower-spec/lower-priced iPhone in Apple’s roadmap. However, while our contacts have seen the placeholder in the Apple roadmap, they do not yet have insight into specs or production timing. This leads us to believe that any launch is likely a very late 2011 or more likely a 2012 event. As a reminder, Avian has uncovered several data-points in recent months pointing to the existence of a lower-spec/lower-price iPhone. A lower-spec/lower-price iPhone has also been speculated in the press and gadget blogs, though we do not believe consensus currently discounts the existence of such a model.

So it’s entirely up to you whether you wanted to stick with Android phones or start saving now and get yourself an iPhone next year.