According to insider sources, “Jobs and Company will begin ‘mass producing a new iPhone by the end of 2010 that would allow Verizon Wireless to sell the smartphone early next year.'” That’s not all, a fifth-generation iPhone is also reportedly in the works.

It’ll rely on a key Qualcomm chip as well as a CDMA radio, but curiously enough, there’s nary of a mention of LTE in this report.

[via Engadget]