Usman Sethi, 23, works as an assistant at the O2 Store in Wimbledon from which the phones were stolen.
He has been captured on CCTV in the store early on Friday morning, hours before the phones were due to go on sale.
The new phones had been delivered to the O2 store, which opens at 9am, in Wimbledon's Tandem Centre.
Police say the smartphones were taken from the shop at 1.30am - around the time Sethi was captured on in-store cameras - along with cash from the shop's safe.
Police also wish to speak to Sethi in connection with the theft of jewellery from his family home in Audley Gardens, Ilford on Friday morning.
Sethi is described as a 6ft 1in Pakistani national, whom police say may be driving a grey Ford Mondeo.
The iPhone 5 was launched by Apple on Friday and retails for between £529 and £699.
-NaijaNews
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