Recent rumors have suggested a second-quarter debut for the iPhone 5 but Piper Jaffray analyst and longtime Apple watcher Gene Munster has a better guess: October 2012.

In a note today to investors, Munster predicted the successor to the iPhone 4S will arrive in October, Bloomberg reports. The next-gen model will feature a new design and work with 4G LTE networks, he wrote. There are also rumours that Apple plans to use new lightweight liquid metal for its next-generation iPhone. The next-generation iPhone could be made with liquid metal instead of glass

The October launch date is actually a revision of the financial analyst's earlier prediction of an August release. Qualcomm, which supplies radio chips for the iPhone, is having problems meeting supply demands, according to Munster.

A rumor last month from unnamed sources in South Korea predicted the next iPhone would feature a 4.6-inch display. The iPhone 4S's screen measures 3.5 inches diagonally, which is downright tiny compared to the latest Android and Windows Phone handsets.

Samsung's Galaxy Nexus, for instance, has a 4.65-inch display and its Galaxy Note skirts dangerously into tablet territory with a gargantuan 5.3-inch screen. The HTC Titan II, which runs Windows Phone, has a 4.7-inch display.

It's a given that Apple will enlarge the iPhone's display, but almost certainly not to Galaxy Note-like dimensions. While the Galaxy Note is selling well, its big-and-beefy look doesn't mesh with Apple's sleek-and-slim motif. The Korean rumor--a 4.6 inch screen--sounds about right for Apple's flagship phone.

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