The report cites a reliable source who says potential next-gen buyers can expect a "radical new case design." That's interesting, as the iPhone 4 case design was said to be radical, as well, particularly with the antenna design, which turned out to be an arguably questionable design.
While no other details on the case design have emerged, in April, Thisismynext reported that the next iPhone would have a tapering, teardrop-shaped design and mocked up an image (above). Whether or not that's true will remain to be seen, but the taper reminds us of the MacBook Air.
In terms of release date, which is certainly the most important thing to consumers, while most people had been pointing to September for the launch of the iPhone 5, BGR's source believes that Apple "may" hold an event in the beginning or middle of August to announce the new iPhone. Available would then follow in the last week of August.
If that's the case, we'd also state that iOS 5 will launch at the end of August, as well. There is absolutely no way Apple will launch the new iPhone without iOS 5, as well. Previously, Apple only said iOS 5 would launch in the fall.