Rumor: iPhone 5 will have A5 processor, Qualcomm baseband

Even though Apple is not expected to reveal the next generation of the iPhone until this fall, the rumor mill is already churning away.
According to Apple Insider, Concord Securities analyst Ming-Chi Kuo said in a note that the iPhone 5 will sport the following “slight modifications”:

• New iOS 5 mobile operating system (set to be unveiled at WWDC 2011)
• A5 processor (as seen in the iPad 2)
• 8-megapixel rear camera
• Qualcomm baseband for both GSM and CDMA models
• Improved antenna design

The last one is unintentionally comedic as its obviously necessary given the catastrophe that was “Antennagate” in summer 2010. However, we shouldn’t expect to see any major exterior design changes until at least the sixth iPhone. (Let’s not even start thinking about that one just yet.) The processor and the camera seem like reasonable upgrades, and given that Kuo has apparently been correct on past Apple rumors, the Qualcomm switch could pan out.
Of course, Apple hasn’t even confirmed an iPhone 5 model (after all, we’re still waiting for the iPhone 4 in white), but we all know its coming. It’s just a matter of when at this point.
[Note: The device in the image above is the iPhone 4 - not a new version of the iPhone that is discussed in this post.]