the iPod touch 5g release will depend on iPhone 5 release date because these are two products which Apple is going to release next, after iPhone 4S Apple is working on both iPod touch 5 and iPhone 5, lets see which comes out first,By the way the it is chance to release iPod Touch 5g in WWDC june 2012
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Predictions say that the fourth generation iPod touch will be released in September, which is most likely. But it could possibly be anywhere from September-November.
Apple has not yet announced the 6th generation iPod Touch, let alone a release date.