iPod TouchIt’s reported that Apple will introduce a new generation iPod Touch with Built-In GPS, which will come in new colors, and will work as a new game controller for certain devices, like the iPad or Mac. It will also feature a Face-Time camera, and a four-inch in-cell touchscreen.

KGI Securites’ Ming Chi Kui spilled the information, which he gathered from unnamed sources. He thinks that Apple is trying to market the iPod Touch to younger customers, and that’s why they plan to offer it in a variety of colors much like the other iPods like the Nano and Shuffle. He also stated that they wanted to make the iPod Touch compatible as a game controller to other Apple devices with larger screens, like the iPad or Mac.

They’re also adding GPS support, which will enhance it’s usability with their in-house maps application that comes with iOS 6.  The iPod Touch will feature a front-facing high definition camera, and a 5 megapixel rear camera that fits with the device’s ultra slim design.

Speaking of the iPod’s new slim design, it’s rumored to feature a 4 inch in-cell touch panel that will match the screen size of the iPhone. It will also be 10 to 20 percent thinner than the current model, which means it will be 6 to 6.5 millimeters thin. It will also weigh less than one hundred grams.

It’s also reported that the next generation iPod Touch will feature an A5 processor, the same kind found in the iPad 2, whereas the iPhone 5 will feature a faster A5 chip.  And like the sixth generation Apple smartphone, the new iPod Touch will feature a smaller nine-pin dock connector with cable.

The new iPhone 5 and iPod Touch will be introduced today at 1:00 PM Eastern, 10:00 AM Pacific.

Apple fans have been waiting for this day all summer, and now that the day has finally come, Apple fans will finally get a sneak peak at the gadgets they’ve been waiting for, and heard about through various rumors.