According to an “industry insider” speaking to the Korea Times, Apple is working with suppliers to obtain displays for a 4″ version of the iPhone, as well as a 7-inch “iPad Mini”.
Computerworld reports that Apple has scheduled a meeting with officials from LG Display to discuss the new displays, as well as future displays for a number of next-generation iOS devices.
Rumors regarding a 4″ iPhone, as well as a 7-inch iPad mini have surfaced numerous times in the past. Considering that there has been no actual confirmation of any kind that such a meeting is taking place, or that Apple is working on either of the two devices, we’d recommend taking this rumor with a grain of salt.