Could the first gen iPhone already be in danger of extinction? That’s the latest rumor to spread and it comes courtesy of a Chinese outlet called the Commercial Times. According to the publisher they’ve heard reports from Apple partner manufacturers Quanta and Wintek that the next gen iPhone is already in the prototype phase and that the finished model could be ready for sale by as early as September. It may even retail for less than June’s iPhone, clocking in somewhere between $250 and $300.

September is just a short two months away and for Apple to make a move like this so soon after the launch of the first iPhone doesn’t seem to add up. We have no doubts that Steve Jobs has secret plans in motion in Cupertino but the past history of Apple has demonstrated that they like to wait and pounce instead of rush and blow the element of surprise. Instead of looking to September 2007 our guts tell us to instead keep an eye around the first anniversary of the iPhone announcement in January 2008.

Source: CellPhoneBeat