Apple is a few months away from introducing the new iPhone, the biggest revision of the iPhone design since 2010, and it seems consumers aren’t all that keen to pick up an iPhone 4S.

Analyst Andy Hargreaves believes Apple will sell 25.4 million iPhones in the current quarter, down from 35.1 million in the previous quarter. He reckons people are simply waiting for the new model. “It’s going to be bad now, but great later,” he told Bloomberg.

Another issue for Apple and the industry in general is the weak economy, which translates into a drop in consumer spending. It seems one of the only things that can halt the Apple juggernaut is austerity.

However, part time analyst and full time Apple guru Gene Munster believes iPhone sales could be somewhat better than many analysts predicted, in part due to growing demand in China.

The new iPhone is said to feature a new form factor, wide a widescreen Retina panel, and an all-metal build. However, Apple is second to none in keeping a lid on its projects, so there is still a lot we don’t know. Rumour has it that the new iPhone is already in production and most analysts expect it to launch in October.

More here.