The golden master of iOS 5, Apple's updated operating system announced in June at the Worldwide Developers Conference, is to be released some time between September 23 and September 30, according to an analyst.

It is just on time for the rumored mid-October launch of the next-generation iPhone, as the golden master in hardware and software is essentially the finished product and other copies can be produced from it, suggests analyst Ming-Chi Kuo of Concord Securities.

Kuo said that it would take 10 to 12 days for shipping of iOS 5 pre-installed new iPhones and iPod Touch units and it won't be available before mid-October.

Apple promised that iOS 5 would come pre-installed in iPhone, iPad and iPod Touch this fall.

The updated mobile platform claims a store of more than 200 features, which includes iCloud (which allows free wireless syncing of files, apps, photos and music), iMessage, revamped notification center and a customizable newsstand that keeps magazine and newspaper app subscriptions organized.

Developers are currently working with the seventh beta of the iOS 5 released this month.

On several occasions, Kuo has proven to be the insider to Apple product development, as he correctly predicted the technical aspect of iPad 2, Macbook Air and the release of the white iPhone 4.

Kuo believes that the next-generation iPhone will release sometime around mid-October. According to him, the supply chains have reported that the design of iPhone 5 won't be radically different from the existing iPhone 4. There are some superficial differences in the phone, when compared to iPhone 4, but it will continue to use a 3.5 Retina display, and will likely retain the full glass front and back. The upgradation includes an A5 processor, 512 MB of RAM and an 8 megapixel rear-facing camera.

An earlier report said iPhone 5 hardware was being stocked at overseas assembling plant waiting for Apple to install iOS 5 on the devices.