New rumors about the specifications and release date for the upcoming iPhone continue to fly fast and furious and the latest is from Bloomberg's sources who are familiar with the product. According to them the upcoming iPhone will be coming with faster A5 processor for dual-core performance which they already used to power the second generation iPad. There is a bump in the camera too, instead of 5 megapixel camera which was there in the iPhone 4, they are using 8 mega pixel camera.

The source also reports that most probably the device will be planning a September release. There is a number of rumors floating around the releasing date, and the most of them points for a September release.
Bloomberg adds some details about the tablet side also. Apple is prepping a new iPad with a high resolution display as in iPhone 4.
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