For Apple, the 3G iPhone is already old news. It hit store shelves three weeks ago, which is an eternity in the fast-paced world of technology. It's time to move on, and so, the trend-setting company is already hard at work on their "next big thing."

Thankfully, tech heads, hipsters and college students everywhere won't have to wait too long.

TechTree reports that Steve Jobs and Co. are planning to release a new iteration of the iPhone in time for Christmas. The new model, in addition to be substantially smaller, would feature a touch wheel on the back for easy dialing.

Obviously, the 'Nano' version would not sport all the features of its bigger brother, but for those that feel the current incarnation of the phone is the size of an uncomfortable brick, this may prove to be a godsend.

Besides, it's Apple. Macbook-having students are compelled to buy it based on this fact alone.