Mark Gurman and Min Jeong Lee, reporting for Bloomberg:

Apple is preparing three iPhones for launch as soon as this fall, including upgraded versions of the current two iPhone models and a new top-of-the-line handset with an overhauled look, according to people familiar with the matter. For the redesigned phone, Apple is testing a new type of screen, curved glass and stainless steel materials, and more advanced cameras, the people said. Those anxiously awaiting the redesigned iPhone, however, may have to wait because supply constraints could mean the device isn’t readily available until one or two months after the typical fall introduction.

Apple seems to be hitting a bit of a manufacturing wall, as of late. They have to produce units in such a large quantity that it’s difficult for any manufacturer to build products with a reasonable yield. And that’s setting aside the fact that Apple’s designs push materials to their limit. This is why we’re seeing such long shipping times for AirPods and why two of this year’s iPhone models will likely retain the same industrial design for the fourth year in a row.

If they want to build something truly revolutionary, they have to sell it at a premium price to limit the quantity necessary to manufacture.