This is not as much about a new iPhone or its features as it is about the outrageous reporting that is happening around it.

There is rumor of a 2010 Worldwide Developers Conference (WWDC) because the conference center where it is usually held has a “corporate event” booked in a similar timeframe. Apple consistently books anonymously with that same title. That may be the closest item to fact revolving around a new iPhone.

What are some of the other items in the media?

• CDMA iPhone for Verizon starts production in September
• CMDA iPhone not likely for Verizon, rather China Telecom or KDDI in Japan
• HD video playback and recording w/ 5 megapixel camera
• 64GB of NAND flash storage
• Increased battery life
• AMOLED screen
• IPS (Intra-Plane Switching) screen
• OS 4.0 w/ multitasking
• Front facing camera
• 960x640 double resolution
• Apple A4 processor (like in the iPad)

Is there any validity to any of these statements? At the moment, no. It is all speculation. Anyone who knows anything about Apple can attest to the fact that pictures of an iPhone part or facts of this nature being leaked this early just doesn’t happen. Many of these types of specifications can be likely as it nears and they are sound rumors, but rumors nonetheless - some of them anyway.

Many of these points came out of the Wall Street Journal. Does anyone remember January 26/27 this year? The 27th was the day the iPad keynote happened. The 26th was the night Jason Calacanis (CEO Mahalo, Open Angel Forums, etc) sent several Twitter updates with a variety of features the forthcoming iPad was to have. Each and every one of them was more ridiculous than the last. They were all implausible by size, weight, price point, or a combination of those. Early the next morning before the keynote, many of those factors were announced in the Wall Street Journal thanks for poor reporting and no fact checking.

Historically speaking, Apple is likely to release an iPhone this summer after 2010’s WWDC. Given the landscape of smartphones today, Apple has no choice but to include many new features and “wow factors” this time around. The move from the 3G to the 3G S brought better processing speed but not much else to speak of. 

One or some of these features will more than likely be in the next generation iPhone (Rumored to be called either 4G, HD, Pro, or Premium). All of them being included with a price point of $199 and $299 is unlikely. Especially if an expensive IPS screen, HD camera, additional camera and an A4 processor are all involved.

This year, more than ever, we should all be cautious to believe what we read/hear about a next generation iPhone. No doubt the hype will grow in the next couple of months and Apple will re-enter with a grand flourish but until that time… the specifics are unknown and the facts are rumors.