iFixit

Removing the battery.

The WiFi antenna and circuitry are at the bottom of the image, near the thumb.

The large orange cable connects the WiFi antenna (upper left) to the logic board.

The size, shape, and characteristics of the cable prevent external noise from interfering with the digital signals as they travel along the device.

At the top of the picture above the battery is a metal cover. Underneath the cover is a Broadcom BCM4325 Wi- Fi and Bluetooth chip. Yes, that's right, Bluetooth! Apple has said nothing of this publicly.

• This particular bluetooth chipset supports BT2.1+EDR. No word yet on whether the one Apple included supports A2DP, which would enable stereo headphones.
• This chipset also offers FM support, but Apple has displayed zero interest in FM historically, and there are no signs of that trend changing.
• Part numbers: BCM4325GKWBG CD0825 B76332 P40 SF

The other side of the wireless circuitry, battery, and logic board.

You can see the dock connector in the center and the headphone jack on the right.

Note the small gold "square" above the dock connector. It's actually a conducting spring that rests against the home button. The button acts as a switch, connecting the spring to ground (the dock connector) when it's pressed.

The logic board.

We think the brown rectangle in the center is the speaker. It looks like the two wires in the orange ribbon cable on the right of it run to the new volume control dial.

The battery. 3.7 V Lithium-ion polymer, as expected. Apple part number 616-0404. No word yet on the mAh rating.

The logic board again, this time with (what we think is) the speaker removed.

The NAND flash memory is a Micron MLC chip: MT29F64G08TAAWP

The processor is an Apple-branded Samsung-manufactured ARM with SDRAM on the package, similar to the iPhone processor.