Now that the iPad 2 launch is out of the way we can move on to more pressing matters: speculating about the iPhone 5.

Apple’s pattern since the first iPhone was released in 2007 has been to update the iPhone every summer, with the new device being announced at Apple’s Worldwide Developers conference (WWDC) and released soon afterwards.
All the rumors about the next Apple device and rumors about a delay in the release of the next OS – iOS 5.
Apple tends to renew its product line on regular intervals, but this time there’s talk about the iPhone 5, that is expected this summer, to be released with significant improvements and modifications in the fall and not a new OS according to a report by Tech Crunch that relies on two sources.
A lot of rumors, as usual, come with the anticipation for Apple’s next cellular wonder. As of right now, almost all of them agree that the iPhone 5 will be equipped with an A5 processor like the iPad 2 and a stronger graphical engine. Additional rumors also state an aluminum back also similar to the iPad 2.
Other assumptions are that the screen will be enlarged to 4inches and NFC technology for local secure communication in order to enable payments through the iPhone 5 via the iTunes clearing system. Another option is for the iPhone 5 to be manufactured in a model that supports a number of different networks (GSM / CDMA) which will simplify manufacturing and distribution.
