Report: New iPhone to have faster processor

LOS ANGELES (KABC) -- Apple Inc.'s next generation iPhone will have a faster processor and will begin shipping in September, according to a report from Reuters.

A person with direct knowledge of the company's supply chain said the smartphone will look a lot like the iPhone 4, which began shipping in June 2010.

Production of the new iPhone reportedly is expected to begin in July or August.

Apple has not commented on the report.

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