According to reports, the iPhone 5 was the last project that Steve Jobs was highly involved in. It is expected to have a slimmer profile and larger screen size in the same dimensions as the iPhone 4S and have LTE (4G) built in.
“This is a very large project that Steve dedicated all of his time to,” said a source. “He was not that involved in the 4S because his time was limited.”
The iPhone 5 is expected to debut in Summer 2012.
Source: CNET.com