iLounge claims to have gotten its hands on an early and unfinished prototype of the fifth generation iPad, which, unlike previous models, features a completely new design with a thinner body and narrower bezels.
Describing the design of the supposed iPad 5, iLounge writes:
[I]t’s a lot smaller than one would guess was possible: in portrait orientation, picture a 9.7” screen with virtually no left or right bezels, and only enough space above and below the screen to accommodate the mandatory camera and Home Button elements. Beyond that, it’s noticeably thinner, as well, which is to say the the fifth-generation iPad will be smaller in every dimension than its predecessors. As it will have the same chamfered edges and curves, calling it a “stretched iPad mini” is very close to entirely accurate.
iLounge suggests that such a massive redesign with size reduction in multiple dimensions could be enabled by a switch to newer IGZO displays and an upgraded processor that demands less power, and hence a smaller battery. Apple has long been rumored to switch to IGZO displays, but Sharp’s manufacturing capabilities have been said to be the deal breaker.
The iPad 5 is expected to be released around October this year. Given how buyers don’t seem to care about the lack of a Retina display in an iPad mini because of its thin design, Apple could easily pull-off the iPad 5 redesign described above without beefing up the hardware too much.
Regarding the iPhone, iLounge says that a plastic bodied cheaper iPhone is indeed being developed and that the 4.8” iPhone, dubbed “Math,” or mistranslation for “iPhone+” is still in early prototyping stages and isn’t expected to debut this year. The iPhone 5S, as you’d expect is due to release later this year, which will look like the iPhone 5 and come with a larger rear flash.