iPhone 5 is already in production and will release very soon.
According to the Macotakara blog, which has cited listings of iPhone 5 cases on China's Alibaba.com as its source, the new iPhone will have both glass and aluminum. "In the area where aluminum is not used, there is glass," said the Web site refuting the earlier information of a "uni-body" chassis that featured an all-metal design. The purported next generation iPhone, unlike its predecessors' "glass sandwich" design with tough Gorilla Glass front and back coverings, will have an inlayed glass piece between the backplate's top and bottom edges which will be "partially covered" by the tough material.
Meanwhile, some opportunistic Web sites like Taobao, China's largest e-commerce platform, has already put mock-up images and technical specifications of the purported iPhone and has begun accepting pre-orders, Reuters reported. Though the Taobao sellers could not confirm the delivery date of the iPhone to Reuters, it mentioned that they are planning to buy the iPhone in Hong Kong or the U.S. and then import it to China.
Apple, however, is still tight-lipped about the release date and features of the next generation iPhone. But according to increasing number of sources, iPhone 5 will be released anytime between September and October this year. As per various rumors, iPhone will come with a 4-inch Retina display with Quantum Dot LED curved glass with 16:9 Aspect Ratio display and 1,136x640 resolution, 367ppi pixel density, iOS 6.0 seed 10A33X with iBoot version iBoot-153x.x., A6 or "a variation of the A5X's S5L8945X architecture" processor, 1GB RAM, bigger battery.
An earlier Digitimes report indicated that the next iPhone is coming with a new quad-core processor based on Samsung's Exynos 4 ARM architecture. Meanwhile, 9to5mac reported that iPhone 5 will feature a new "SGX543RC*" GPU (number of the chip could not be divulged to protect the identity of the source).
iPhone 5 is also expected to have 3D GUI, 3D camera, Face Unlock, New Dock Connector, Wireless Charging, Nanotech coating, Improved Siri, Apple's new Map app. NFC is also expected to be packed in the iPhone.