Rumors: IPhone 5 nano, expected to released in mid of 2011 by Steve Jobs

“Among products Steve Jobs is continuing to work on are the next version of the iPad tablet computer, expected out in the next couple of months, and a new iPhone, expected to be released this summer,” – Wall Street Journal.

On the other hand, according to Bloomberg’s anonymous sources, the phone will be about 1/3 smaller than the iPhone4. It components still reuse the components from the iPhone4 to help keep it cheap -- about $200 without a contract. More interestingly, one of the Bloomberg sources has seen an iPhone Nano prototype, and claim that Apple has been planning to launch it in the middle of this year -- which would put it out right around the same time as the still-unannounced iPhone5. Meaning, this tiny little device might be iPhone5 nano.

These reports are still unconfirmed, Apple representatives, including Steve Jobs, declined both Bloomberg and the Wall Street Journal requests for comment.