Apple’s much popular iPad has been launched just a few months ago, while the iPhone 4 entered that market just a little more than one month.

Surprisingly, rumors have already started swirling that Apple is preparing to launch the next versions of the iPad and iPhone in early 2011.

A report posted by iLounge claimed that Apple would release the iPhone 5 in January next year. It may be noted here that all the earlier iPhones were released in or around June.

But, as iPhone 4 has been dogged by the poor reception problem since it worldwide launch in June, Apple may bring out the fifth-generation of iPhone sooner than later.

iLounge also claimed that a smaller, 7-inch screened version of the iPad would be made available for purchase either later this year or in early 2011.

The new 7-inch iPad will be equipped with retina display with a high density resolution of around 1500 by 2000 pixels.

Apple’s future mobile products have always been welcomed by large number of rumors, and more rumors will emerge as the time will pass. But, mostly Apple-related rumors turn out not to be true in the last.