Walmart Drops iPhone 4 Price to $147 - Techland - TIME.com

One of the biggest "no brainer" features the iPhone 5 will sport is the A5 chipset they put in the iPad 2. The performance will be MUCH MUCH faster. Given that they have introduced iCloud (which doesn't stream music/movies) everyone will want more storage space for all of these files that are being auto-pushed to their iDevices. Will the iPhone 5 give us models that start at 32GB and top out at 64GB? Well, that has yet to be seen. Hopefully so though.

It's pretty much a definite that the iPhone "5" will be out this year. It will most likely sport a unified design to close the gap between the AT&T and Verizon models. That is, they will produce a model with both CDMA and GSM chipsets.

Expect the outward appearance to sport different designs changes, such as:

-Antenna (no brainer.)
-Status LED for msgs and missed calls (like Blackberry)
-No home button + gesture control (rumored.)

Is is true? somepeople says Iphone 5 comes out next year,,

Oh it could have been changed. I dont know. I work away from home 3 weeks per month and work 16+ hours a day during that time so im not really in the loop. That was the last thing I remember hearing.

The general consensus from many of the tech news sites mention September (citing "analyst(s)"). Only Apple knows for sure though.