According to Bloomberg, which has decided to enter into the iPhone 5 rumor mill, the next iPhone will feature a more powerful chip and a more advanced camera. Their report of the iPhone 5 including the A5 chip corroborates what is largely expected – it is the chip that is currently included in the iPad 2.

The report also claims that the “more advanced camera” will feature an 8-megapixel sensor, something that Sony’s Howard Stringer had said earlier this year. It’s an increase from what is currently used in the iPhone 4, which is a 5-megapixel camera. Similarly there have been previous reports have an 8-megapixel camera throughout this year.

The next iPhone will, according to this Bloomberg report, be similar in design to the current iPhone 4. It comes after yesterdays report from BGR which backed up an article from This is my next earlier this year which claimed the iPhone 5 would feature an all new design.

Bloomberg’s sources, not identified, also claim that Apple is trialling a new iPad that includes a higher resolution display – one that would be similar to the Retina display in the iPhone 4. Apparently the display will have roughly one-third more resolution than the current iPad and also have increased touch responsiveness.

The report ends with a somewhat bizarre suggestion that Apple is “working to finish a cheaper version of the iPhone” that would be targeted to developing countries. Bloomberg says that it would use similar chips to what is included in the current iPhone 4 but would be smaller in size.

[Via Bloomberg]

Amidst the debate surrounding Apple’s subscription system for the iTunes Store, Bloomberg BusinessWeek has released an iPad app that implements Apple’s new app subscriptions — and unlike many other publishers that agreed to test them, BusinessWeek’s ones are pretty cheap and attractive. New issues will be released every Thursday with in-app update, they weigh in at around 30 MB (very lightweight, considering other iPad magazines managed to achieve the 500 MB quota with hours of waiting for a download to finish) and they’re priced at $2.99. Print subscribers can get all the issues for free, but if you want to subscribe to the digital edition (with contains all the content of print, plus exclusive articles and rich interactive features) you’ll have to pay $2.99 — not a bad deal if you consider most app subscriptions have been priced at $4.99 and BusinessWeek’s own print edition costs $4.99 per issue. Finally, an iPad app that’s cheaper than its print counterpart, and has more content and automatic updates.

PaidContent reports BBW is also “pleased” with Apple’s subscription terms for publishers. From an interview with Oke Okaro, Bloomberg’s global head of mobile:

We are very pleased with Apple’s terms,” he said in a recent interview. As for being able to glean more information about their readers—something magazine publishers value highly, as it gives them more details with which to attract advertisers and build circulation—Okaro said that there will be a lot opportunities through things like reader surveys to get users to share information willingly.

We recognize that there is overlap among the audience for all versions of BBW and that’s reflected in this app. We’re simply looking at where our audience is going and we’re following.

The BBW iPad app features a video section with a “behind the scenes” look at the feature story from the cover of the magazine; interactive market information by simply tapping on a company’s name within each article; possibility to create a “personal archive” and manage  past issues without affecting the archive. More importantly, the BBW app also comes with a search feature and font resizing options — something that suggests the developers haven’t simply used images to provide static pages, but real text — thus the issues being available at 30 MB from the App Store.

The Bloomberg BusinessWeek app is available now for free in the App Store with in-app subscriptions. The app follows the magazines that implemented subscriptions in February, and anticipates a trend that should grow bigger come the June 2011 deadline — when developers of existing App Store publishing apps will have to enable subscriptions.

A report by Bloomberg today suggests that Apple’s next iPhone and iPad are likely to feature NFC (Near-Field Communication) technology that would allow various forms of data transfer between the iPhone and another NFC capable device. Richard Doherty of consulting firm Envisioneering Group explains that the technology would be primarily used for making purchases at physical stores, expanding Apple’s reach in commerce beyond just iTunes.

Near-Field Communication is a technology that can send and receive data between two such devices with NFC that are up to 4 inches apart. The technology has gained popularity in recent times, most notably being included in Google’s Nexus S.

By including NFC into the iPhone and iPad, Apple could use it’s existing iTunes accounts and give consumers an alternative to more traditional financial services by Visa, MasterCard and PayPal. Richard Crone, an industry advisor suggests that “It would make a lot of sense for Apple to include NFC functionality in its products.”

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Bloomberg TV aired a Game Changers episode about Apple’s CEO last night. The video is now available for streaming here and if you have 50 minutes, it’s well worth it. The episode will re-air tonight at 9PM and 11PM (ET). (more…)