Digitimes reports that component makers are preparing materials to begin production of the iPhone 5 for an October release, with signs pointing to the iPad 3 dropping before the end of the year as well.

Taiwan-based companies included in the supply chain for iPhone 5 and iPad 3 have begun to prepare materials for the production of the two devices

According to their sources, production of the iPhone 5 and iPad 3 should begin in August and ramp up in September with the iPhone 5 hitting sometime in October.

Most rumors have narrowed the iPhone 5 release to September. It's unclear what the release window for the iPad 3 would be, and it's important to keep in mind that Digitimes has been hit-or-miss with their predictions in the past. Earlier this month they reported iPad 3 component suppliers gained Apple certification for a 2012 release, which goes against these new reports. Both Daring Fireball and TechCrunch have pointed to a "fall surprise" related to a new iPad, possibly iPad 3 earlier this year.

TiPb has independently heard that October is likely for iPhone 5, and that there could quite possibly be a new iPad, perhaps a revised iPad 2 or iPad 3, this fall as well. Regardless of the rumors, however, Apple can and will move things around based on production and marketing needs, so no one knows for certain until Apple makes the official announcements.