Apple's third generation iPad 3 has grabbed an overwhelming amount of attention, with the launch date speculated to be less than a month away. The iPhone 5, on the other hand, isn't far behind with Cupertino reportedly prepping a new dock connector for the smartphone, iMore reported.

The Web site's team apparently heard from unnamed sources that the new micro dock is set to replace the standard 30-pin dock connector present not just in the iPhone, but on the iPad and iPod as well. The new dock connector is said to be a compact version of the iOS device syncing and charging port, but it will not be micro-USB or Thunderbolt.

The dock connector as it exists now is a relatively big component that takes up, while not a lot of space compared to the entire assembly, a lot of space compared to the difference between mini and micro SIM, iMore's Rene Ritchie reported on Thursday.

He also added that Apple's PC-free computing through iCloud and Airplay syncing may have actually played a role in diminishing the importance of using the dock connector. Smaller docks, the report said, will enable the inclusion of bigger batteries and other important components to idevices.

Although far from confirmed, the rumor may hold an element of truth to it since Apple is known to have filed a patent for smaller components to be integrated into its devices. Apple's previous moves in trimming down the size include taking the antenna out of the iPhone and running it around the edge instead. It has also adopted the smaller micro-sim standard.

According to reports, a redesigned docking connector would allow for faster bandwidth speeds and improve the device's sync capabilities. As thrilling as it may seem, the downside is that a change in the dock connector may require users to buy adaptors for the devices. Apple, in keeping in-line with its don't tell policy, has not commented on the reports so far.