Analyst, Nicolas Gaudois for UBS Invesment Research has issued a report to clients today in which he took the news of profit warnings from baseband chip maker Infineon as a sign that Apple’s future iPhone model could see delays in ramping up manufacturing.

“In our view the profit warning has been caused by ramp changes of next generation iPhone, into which Infineon is supplying the main High-Speed Downlink Packet Access (HSDPA) chipset,” Gaudois said. More specifically, he said the delay has resulted in 1.5 million fewer orders for the chipset during Infineon’s current quarter.

A spokesperson for Infineon later stated that the company had “received lower orders than expected” for certain HSDPA chips destined for a “high-speed Internet phone.”

The company also said that a 1.5 month delay on a “Nokia project” is also to blame for the revenue shortfall.