We are nearing the launch date for iPad 2, but it is not going to stop us from speculating about iPhone 5. There are some pictures
doing rounds on the internet which show replacement parts, reportedly belonging to iPhone 5. The pictures show a frame with discernibly thinner bezel. This thin bezel will help iPhone in achieving edge to edge display.
If the picture of the replacement part is not doctored, then expect your iPhone to be supersized, which makes sense since now the market is flooded with 4 inches+ smartphones. However, the actual size of the device will probably remain the same. New iPhone is also likely to replace its A4 chip with a faster one. It is also expected to be both GSM and CDMA compliant with a new Gobi WWAN chip. This chip is already present in CDMA phone on Verizon networks. If all the new specs are true, then it amounts to complete overhaul of the Apple device.
Source: 9to5Mac