iPhone 5.7 Makes its Video Debut: New Apple Phablet to Compete with Galaxy Note (VIDEO)

A new concept video for the rumored Apple phablet has been created and released by Gadget magazine T3.

This phablet is called the iPhone 5.7 in the video and it is shown side by side with the iPhone 5. It shows off a beautiful 1080p display in the video and hints at how cool this hybrid device would be if Apple actually chose to launch it.

Apple is apparently looking to launch smartphones with much bigger screens as well as cheaper models in a range of new colors over the next year, according a recent Reuters report.

The publication cites four people with knowledge of the matter as its sources. They claim Apple will release these bigger phones next year. Asian supply chain sources confirmed the information as well. They reported being approached by Apple to create these bigger displays. However, it is unclear if the flagship iPhone will be the device with the bigger screen.

"They constantly change product specifications almost to the final moment, so you're not really sure whether this is the final prototype," said one person with direct knowledge of the matter. A 5.7-inch smartphone would put Apple in direct competition with the Galaxy Note that belongs to a new category of phablets started by Samsung in 2011.

Samsung also plans to launch the Galaxy Mega line that will feature both 5.8 and 6.3-inch smartphones. Other companies such as Sony have decided to compete head on with Samsung by releasing the Xperia Z, which could also be deemed a phablet.

Apple is rumored to be releasing a new iPhone sometime this fall, which could either be the iPhone 5S or iPhone 6. The new iPhone will feature new fingerprint technology. The company will also launch a cheaper version in plastic casing that will retail for $99. It will come in a range of 5-6 colors to differentiate it from the more expensive model, which will most likely be available in the traditional black and white.