The most updated scoop on the Apple iPhone 5 suggests that the upcoming smartphone will feature a 4.6-inch screen, thus finally deviating from the 3.5-inch screen used on previous iPhones. That is, if the rumor is indeed accurate.

According to sources, Apple has just submitted orders for 4.6-inch display units for the next iPhone, although no exact suppliers were specified. We’re guessing these screens would come from South Korea, either through Samsung and/or LG. Other new rumors on the iPhone 5 so far include a second quarter 2012 release date, Retina Display to go with the larger screen and an aluminum back.

But if you come to think about it, the recent rumors of a 4.6-inch screen and Q2 2012 release may not be that realistic after all. Other rumors have speculated a 4-inch screen – fairly average across the board, but already a good deal larger than the 3.5-inch screen on older iPhones.

As far as release dates go, most are predicting Apple would follow the 12-month release cycle and opt to release their next-generation handset in October. We wouldn’t mind if both new rumors turned out to be true, but as of now, it seems more like wishful thinking than anything else.

On the other side of things, Samsung is reportedly planning to launch their upcoming Galaxy S3 with a 4.7-inch screen. That could lure a lot of Apple loyalists who have put up with the iPhone’s mediocre screen size for too long. In other words, we’re more inclined to believe the screen size rumor rather than the one about the Q2 2012 release.