Apple iPhone 5 is grabbing attention from all corners as the consumer electronics major is prepping for a bigger iPhone market in the second half of the year. The iPhone 5 production rumors and the reported loss of a sensitive prototype have fueled release date rumors.

A few days after reports surfaced that Apple had lost another iPhone prototype, Best Buy passed on the message to its employees that the iPhone 5 could be released in the first week of October, and not at the end of October.

According to earlier reports from DigiTimes, Apple’s total order volume for the iPhone 3GS, 4 and next-generation iPhone 5 has increased to 56 million units. Thus Apple is expected to become the largest smartphone vendor in the world.

And the latest reports from several sources point that GameStop will begin offing Apple’s iOS mobile devices such as iPhones, iPods and iPads at its stores. With iPhone 4 and previous generation iPhone prices are expected to drop further, GameStop is expecting to trade the old line-up before iPhone 5 launches.

Apple's old iPhone 4 is surprisingly still selling strongly on U.S. carriers. AT&T is eagerly expecting to hold Apple’s newest cash cow iPhone 5 as iPhone 4 is still the most recommended device on its network. Many reports and rumors show that 4G-capable iPhone 5 is on the way, but in fact it may be 4G-supported through AT&T network and most probably not the Verizon’s LTE.

Presently Verizon’s LTE network is still being built and AT&T’s is still being planned. Even if iPhone 5 comes with the 4G title, users will not have access to the 4G network initially, whether it’s built or not. Another report says the iPhone 5, due this fall, will support HSPA+ technology, a development that will allow the device to offer faster data speeds on GSM networks such as AT&T. Even though HSPA+ is slower than the LTE standard, AT&T has begun marketing its HSPA+ network as 4G, meaning that the carrier could position the next iPhone as a 4G device despite it failing to offer LTE compatibility.

Meanwhile,according to reports, iPhone 5 will be offered on Sprint in addition to Verizon and AT&T, and preorders may begin as early as this week.

Germany's Deutsche Telekom has reportedly started taking pre-orders for the next generation iPhone. And, according to a Japanese IT news site Macotakara, the two Chinese OEM manufacturers Foxconn and Pegatron have begun production of the hotly anticipated device. However, since Apple's new operating system, iOS 5, is not yet ready to install, the assembled iPhone seems to be stocked without packaging. Once iOS 5 finishes beta stages, we can get a clearer idea about when iPhone 5 will be released.