New iPhone At WWDC Next Week? Possible But Highly Improbable

Does it make sense for Apple to release an updated iPhone before the next iOS update is ready?

Sure, and that could be why I won't be totally surprised if Steve Jobs goes on stage, reaches into the left pocket of his jeans, and tells the world, "this is iPhone XX".  

But you say, "how can Apple do such a thing without the accompanying iOS?  Doesn't it need iOS 5?"

Well, yes.  It would be nice to have iOS 5 ready but because of the fact that Apple did not talk about it back in April like it's done the last couple of years but, instead, in June, means it is not quite ready yet.  

However, when the original iPad launched, it ran on iOS 3 and it was not until November when iOS 4 version for the iPad was released.  

So, it is entirely possible that we can see a new iPhone next week.  It is highly improbably but that's another matter entirely.