Apple's next iPhone will be available in October, according to Gene Munster, analyst for Piper Jaffray. Munster also says the phone will have a redesigned body, and will run on 4G data networks such as LTE.

The analyst predicts the phone will be available in October based on a statement made yesterday by Qualcomm, which is currently having trouble meeting customer demand for its radio chips. Those chips would be used by Apple to connect the new iPhone to faster data networks.

Apple released an LTE version of its iPad on both AT&T and Verizon. It seems like almost a given that the company would choose to support the faster data network on its new iPhones as well.

Another report Thursday focused on what materials Apple will be using to build that redesigned body. Computerworld claims Apple will be using an exotic material known as LiquidMetal to create the phone. Apple spent $30 million acquiring the rights to use LiquidMetal in 2010.

Rumors have circulated before that it plans to use the alloy to build a phone, however, recent reports indicate that the company will make good on those rumors with the release of the iPhone 5.

LiquidMetal is a mix of several different metals, allowing the phone to be more durable while giving it a liquid-like exterior feel. Light like plastic but durable like aluminum, LiquidMetal would allow the phone to weigh less and have a thinner profile.

LiquidMetal announced it started shipping its first commercial parts in December of last year. "We are very excited about the use of amorphous alloy technology to deliver stronger, lighter, and more corrosion resistant parts to our customers in varying industries globally.” President and CEO Tom Steipp said in a press release.

“These initial shipments represent a significant milestone in our efforts to provide a new class of materials for our customers to consider when designing complex parts."

What do you think Apple has planned with the iPhone 5? What features do you hope will be a part of the phone's design? Would you buy a LiquidMetal phone? Let us know in the comments.