If you have ever downloaded iDevice Firmware to your computer using iTunes, that firmware is saved in your PC, but not to any general download section. Once you have downloaded the Firmware, copy it from the download folder and save it anywhere else. If you haven’t found where all the downloaded .ipsw files are, and of course Apple won’t go out of it’s way to tell you where iTunes have saved the iDevice firmware files, we will tell you.
iDevices Firmware files have extension of .ipsw and they can be find in the following locations:
Contents
On Windows Xp:
Documents and Settings\<User>\Application Data\Apple Computer\iTunes\iPhone Software Updates
On Windows 7:
Users\<User>\AppData\Roaming\Apple Computer\iTunes\iPhone Software Updates
On Mac OS X:
~/Library/iTunes/iPhone Software Updates
Screenshots:
On Windows XP:
On Windows 7: