While many countries including India waiting for iPhone 4, Apple started iPhone 5 production. One of the Chinese Daily reported that iPhone 5 is in trial production phase. It is not the real final device which is in trial production. It is a prototype design which might be used for physical testing. iPhone 5 actual release may get delayed due to Japan’s disaster.
There may be changes to metal chassis to improve antenna sensitivity and it will have a 4 inch scratch resistant capacitive touch screen.
Above image is a conceptual design which shows 4” screen with the same form-factor as iPhone 4. iPhone 5 may also be equipped with near-field communication (NFC) technology. This will enable future iPhones to make mobile wireless payments very easily at special cash registers. NFC hardware will be integrated with iPhone’s processor and it is directly linked with iPhone owners iTunes account. iPhone 5 may come with A5 dual core processor. iPhone 5 will bring back original iPhone metal back. Apple may also redesign iPhone 5 back to a curved shape and make it inline with iPad 2 and iPod Touch.
There were many rumors on iPhone 5 will be released in two forms. New one would be a nano iPhone. This will bring cheaper and smaller iPhone and can attract more users. While we confirm on how many of the above details come true, see this comic picture of iPhone 5 by bizarrocomic :)