Iphone 5 is identical to the iPhone 4  warns analyst -

An analyst working for Concord Securities has warned that Apple's iPhone 5 will be virtually identical to the iPhone 4.

Ming-Chi Kuo said the phone will start shipping after golden master of iOS 5 reaches assemblers later this month.

However, despite the rumours about an expanded display and other framework design tweaks, Kuo says there will be "no discernible difference" between the iPhone 4 and the iPhone 5. In fact, he suspects that Apple knows this and might just call its fifth generation iPhone the "iPhone 4S."

Kuo  said that under the bonnet the iPhone 5 will deliver 512 MB of RAM, the iPad 2's A5 chip, 3.5-inch display, iPhone 4-comparable camera module height, and a glass front and back. This is hardly much in the way of "wow" factor. The A5 chip is probably the only highlight and the rest is pretty much "so what".

Kuo told Apple Insider that Jobs' Mob had taken great care to modify its antenna design to prevent a repeat of the "death grip" phenomenon of the iPhone 4. Still there is expected to be no visible difference between next and previous generation models of the handset.

This comment is fairly crucial as the Tame Apple Press had been talking about a redesign for the iPhone 5.

If the phone looks the same, has more or less the same spec, then why would anyone dump their old phone to buy it?

What are we saying? Apple gear is not bought on the basis of technology, buying a new phone is a religious ritual. It does not matter if the phone is the same, it just needs to have the number 5 on it and people will queue outside the Apple Cathedral of superficiality, er Store,  as normal.