Apple and LG Working on iPhone 5 with 4-Inch Display (Rumor) [Updated]

A report coming from Korea says that an industry insider shooting his mouth to the press in the country has revealed a partnership between LG Display and Apple to create parts for the next-generation iPhone and iPad.

The unnamed executive reportedly told the Korea Times that next year's iPhone will feature a 4-inch screen made by the savvy people at LG Display. The display would be half an inch larger than the current form factor (3.5 inches). The exec mentioned that the Retina resolution will remain unchanged.

As for the iPad mini, it’s said (by the same source) to be in the works with a 7.35-inch form factor.

It has been reported recently that Apple abandoned plans to introduce the iPhone 5 this year because Steve Jobs, the late co-founder, didn’t care much for its new display. Perhaps Apple is now making the proper alterations in accordance with his vision.

Specifically, an industry source known to Business Insider to have been accurate on Apple matters in the past said the iPhone 5 was “real and it was scrapped only months before the iPhone 4S was announced.”

The source also said that Apple’s phone had an aluminum back with a tapered design, a 4-inch (diagonal) screen, a touch-based home button, and a 10 megapixel camera.

It’s also been said that the iPhone 5 is Steve Jobs’ brainchild entirely. The visionary reportedly took great interest in the product as the iPhone 4S tests were being handled by other teams at Apple.

The tech genius reportedly worked on several aspects of the iPhone 5 even during his final days, and watched the October 4 iPhone 4S event from his home in Palo Alto.

Update: original story pulled. More info here.