According to the Apple Online Store, currently the only place to find information about the new iPod, Apple's latest device features a 4-inch Retina display, dual-core A5 chip, and Apple EarPods. As predicted by KGI analyst Ming-Chi Kuo in January, the new touch, currently limited to a black-on-silver design, sheds the rear-facing iSight camera and wrist strap to drop the price of entry down to $229.
First spotted by The Verge, the iPod touch adds to the current 32GB and 64GB offerings, and appears to take the place of the now discontinued fourth-generation model line.
Interestingly, the new version retains the front-facing FaceTime camera and boasts the same connectivity options as its more expensive siblings. The only other change is the 16GB model's weight, which drops down to 3.04 ounces due to the camera delete and loss of the wrist strap holding button.
Apple launched the fifth-generation iPod touch in September of 2012 without a 16GB option, just as it did with the third-generation player. All other generations had capacities down to 8GB.