Next generation iPhone 4G which was rumored all around the web has now been finally spotted by Gizmodo over here. The previous rumors regarding this app speculated a lot of stuff about its speedy hardware, dual camera (front and back), iChat for video calling, turn-by-turn GPS, etc. More about the iPhone 4G rumors can be found here.

Now the phone has reportedly been found by some guy and Gizmodo has got their hands on it for a review. The phone has now got less-rounded corners and have a more sleek design.

What’s new

• Front-facing video chat camera

• Improved regular back-camera (the lens is quite noticeably larger than the iPhone 3GS)

• Camera flash

• Micro-SIM instead of standard SIM (like the iPad)

• Improved display. It’s unclear if it’s the 960×460 display thrown around before—it certainly looks like it, with the “Connect to iTunes” screen displaying much higher resolution than on a 3GS.

• What looks to be a secondary mic for noise cancellation, at the top, next to the headphone jack

• Split buttons for volume

• Power, mute, and volume buttons are all metallic

What’s changed

• The back is entirely flat, made of either glass (more likely) or ceramic or shiny plastic in order for the cell signal to poke through. Tapping on the back makes a more hollow and higher pitched sound compared to tapping on the glass on the front/screen, but that could just be the orientation of components inside making for a different sound

• An aluminum border going completely around the outside

• Slightly smaller screen than the 3GS (but seemingly higher resolution)

• Everything is more squared off

• 3 grams heavier

• 16% Larger battery

• Internals components are shrunken, miniaturized and reduced to make room for the larger battery

Here’s a video from Gizmodo about the Apple’s Next iPhone: