iPad 5 mockup (Martin uit Utrecht 002)

The often accurate Jeremy Horwitz of iLounge just published a monster report with details regarding the new iPad, and Apple’s two new iPhones coming later this year. Horwitz nailed the iPhone 5 last May, and has a fairly good track record, so people tend to listen when he talks.

For starters he dishes about the iPad 5, saying the tablet has been completely redesigned with virtually no left or right bezels, and less space above and below the screen. It’s described as a “stretched iPad mini,” with chamfered edges, and is smaller than you’d imagine possible…

Horwitz says that he’s seen a “physical model” of the new iPad, and that it’s “seriously intriguing.”

“What does it look like? Well, it’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.”

Don’t get your hopes up for a performance boost though. Because of the redesign, Apple will have to find smaller parts and new display tech to make it work. He says expect it to be on par with the iPad 4, and despite earlier reports of a March launch, he’s now hearing October.

Now, as for the iPhone lineup. Sources say the iPhone 5S will look very similar to the iPhone 5 (big surprise!) albeit with a larger rear flash. They also confirm previous reports that Apple is working on a cheaper iPhone. Apparently it’s made of plastic, and is launching this year.

And finally, Horwitz shares some tidbits about the so-called ‘iPhone Math’ that has popped up in a few recent rumors:

“Addressing the so-called “iPhone Math”—hinted by one source as a mistranslation of “iPhone +”—we’ve been told that this is another new model and in early prototyping stages, certainly not expected in 2013. It supposedly has a 4.7” screen, at least for the time being. It might never make it to market, and plenty could change before it does.”

That’s something to keep in mind here. Even if these reports are accurate—and that’s a big if—a lot can change between now and when these products launch. So for that reason, we are putting this information in the ‘rumors’ column until we can back it up with more corroboration.

But common sense says there’s nothing too outlandish here. The iPad 4’s design is three generations old now, and grossly oversized. And the ‘budget’ iPhone rumor has been very popular, even with the likes of The Wall Street Journal. So between that and Apple’s new focus on China, why not?

What do you make off all of this?

[image credit Martin uit Utrecht]

Update: iLounge has just provided an update to this post, adding a few more details. First, it’s reporting that the iPhone 5S has a target date of July and its star feature will be an updated camera (perhaps Sony’s 13MP sensor). Next, the iPad 5’s code name, according to sources, is J72 and the 2nd gen iPad mini’s is J85. The mini is also expected to arrive in October with a Retina display.