This week's "iPhone 5" rumors focus on the carriers. According to Piper Jaffray analyst Chris Larsen, via CNET, the "most noteworthy" change to Apple's next-generation iPhone is that it'll be offered by Sprint and T-Mobile, on top of existing carriers AT&T and Verizon.
In May, another analyst said an iPhone "4S" was launching on Sprint and T-Mobile in time for the Christmas holidays.
Meanwhile, ChipHazard reports that the next-generation iPhone is being field tested on AT&T's networks, according to a "well-placed sources in AT&T Mobility." The tests include signal reception and connectivity, and once they pass the tests the prototype will be given to manufacturers.
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As for phone specs, there's an endless amount of speculation. Some of the more recent rumors include a completely revamped iPhone 5 with wireless juicing, a "baby iPhone" for developing markets. For more, see 8 Likely iPhone 5 Rumors, and 2 Wild Ones.
Last Wednesday, the Wall Street Journal reported that Apple was expecting to sell 25 million fifth-generation iPhones by the end of 2011. Dubbed by its unnamed sources as the "iPhone 5," the device sounds like a minor upgrade from the iPhone 4, with a thinner, lighter chassis and an 8-megapixel camera. Furthermore it would use wireless baseband chips from Qualcomm, rather than chips from Infineon Technologies as discovered in iPhone 4 teardowns.
Most reports point to Apple announcing the next iPhone in the late summer, with a September launch.