It seems that the iPhone (News - Alert) 5, as many have claimed is underway, is based on the latest YouTube video posted by ETrade Supply, which identifies a piece to the phone similar to that of a back cover case. The video confirms several rumors with regards to changes expected with this new phone.  

The cover represented in the video is similar to that of an iPhone 4 or 4S back cover, however, it is no longer solid black or white but a metallic brushed metal.  ETrade Supply examines and mentions in the video that the multiple changes to arrive include a slightly longer iPhone, which is suited to fit a four-inch screen diagonally despite being thinner, a smaller dock connector along its bottom side, new, redesigned speaker grills, and a headphone jack that will be located on the bottom part.

Between the phone’s camera and flash, will be a microphone as well, for new featured speaking capabilities, and a smaller SIM card.

People have speculated an early release date to the new phone based on ideas surfacing a claim that the phone is ahead of schedule, as it has been thought to show in October, and will be introduced during the Worldwide Developers Conference (WWDC) where CEO Tim Cook will give the keynote speech, according to Latinos Post article.

Rumors are only just that, rumors, however with the immediate progress that Apple (News - Alert) has made in this generation from the boom of each updated version of the phone, there is no reason not the believe that iPhone 5 is bound to make its appearance as soon as the summer, and cell phone companies are in for yet another stampede of people eager to get their hands on the widely desired cellular device.