The rumor comes from a reference found within the code of the new iOS 6.1 Beta 5 OS that was released yesterday, which was found as part of the SystemParitionPadding key within the build manifest (pictured above).
The interesting part is that this was also hinted last year in November when Apple released iTunes 11, which contained a graphic corresponding to a mobile device with a 128GB capacity.
A sort time after this 9to5mac reported that this new capacity may in fact be for an additional iPad model after receiving word from anonymous sources, information that comes from the SKU for the forth-generation iPad with Retina display line, which will apparently come the same as the current line-up joining the already available 16GB, 32Gb and 64GB models.
The SKU which is pictured above reveals that Apple may be set to release an “Ultimate” version of the iPhone, which is their way of coding the storage sizes, good is 16GB, better is 32GB and best is 64GB, alongside this A is black and b is white, showing that the model will be available in both black and white, and to top it all of the code also includes the P101 and P103 names which are Apple’s names for the WIFI-only and Cellular models, meaning the device will also be available in those configurations.
Of course there’s no official news yet but we will update you as the story develops.