The iPhone 4 hasn’t been out all that long and there are rumours of a new Verizon iPhone coming in January which may or may not happen as there have been numerous rumours of the Big Red gaining the iPhone for ages.

But according to an article over on Fonehome by Andrew, and by way of Know Your Cell, tech site Dvice has cited a “reliable source” as claiming that an iPhone 5 prototype already exists, and apparently an Apple insider has said that this iPhone 5 is so different from the iPhone 4 it can’t be considered anything other than the iPhone 5 and is heading for Verizon Wireless.

Apparently Dvice have slapped a large disclaimer on the article stating nothing has been confirmed. However according to the source the Verizon iPhone 5 will pack a 1.2GHz processor, a 3.7 inch touch screen, and will have an internal antenna rather than the external one found on the iPhone 4.

Furthermore, according to Dvice, Verizon has pressured Apple into making the changes. Personally I think this is complete bunkum as I can’t see Apple bowing to pressure from the Big Red over design of the iPhone. No doubt a Verizon iPhone will come at some point, as will an iPhone 5, but whether they will be one and the same thing remains to be seen.