Apple has reportedly slashed its orders for iPhones for the first quarter of next year. According to UBS and other sources, Apple cut its "build" orders from 35-40 million units to 25-30 million. This suggests that sales of the all-important iPhone may be far lower than Wall Street has been expecting. It also suggests that the iPhone 5 has not been the colossal hit that Apple needed it to be.
If Apple starts revising iPhones every six months they are going to anger the consumer. Also people who never had an iPhone will put off buying one hoping the newer model will have more features they want.