The next iPhone's release is a concept that is watched with breathless anticipation by hordes of Apple (News - Alert) enthusiasts out there, and thus, reports about it are carefully combed over for any sign of a date to come. Newly released analyst reports have suggested that Apple is readying for the launch of the next iPhone (News - Alert) by cutting back on the number of orders for iPhone 4S models.

The reports, which came from Sterne Agee analyst, Shaw Wu, today published a research note which detailed a drop in the total number of iPhones ordered by Apple in the period between this quarter and the previous quarter. Wu's analysis says that the total number of produced iPhones may have dropped by as much as 25 percent, which is a pretty healthy drop in the totals indeed.

This is a move that Apple's done before, and a move that makes plenty of sense. Like any other company, Apple doesn't want a large surplus of unsold iPhone 4S models on hand, so it's creating a very small shortage--very small since many of the people who wanted an iPhone 4S have one by now--by reducing orders and allowing suppliers and resellers alike a chance to clear the floor before launching a new model. This prevents Apple from paying for models it doesn't need, and trying to clear out surplus models that precious few people want because they're too busy buying the newest iPhone.

Interestingly, thanks to the reductions, Apple's shipments of iPhones are now expected to fall below, Wall Street average estimates, at 26 to 28 million rather than the 30 to 31 million the Street expected. Since the loss is due to the iPhone refresh, rather than any kind of demand effect, impact on Apple's impressive stock price should be comparatively low.

Though no one's sure, as yet, as to when the next iPhone will launch, one thing is quite clear: there are plenty of people, even in this downed economy, waiting eagerly for a chance to own the next iPhone. Whatever Apple ends up calling it, whenever they end up releasing it, there will be lines, shortages, and a whole lot of satisfied customers.