There isn't any mistaking it, the iPod is really a legend, the yard stick through which we compare all portable press players. When you hear phrases like "I just bought an innovative iPod, it's good, but not just like the Apple one",You just realize that, there is one it, how the iPod is now as a lot a metaphor for music players as Google is perfect for Search. Apple has come quite much in what their music players can handle doing.
From its first generation iPods in 2001 which had 5GB hard disk drives, black and white screens, and may only play MP3 files, and people too for only 10hrs, towards the second generation iPod touch currently available, which has a large 3.5" multi touch screen, with up to 32GB capacity, with a battery life of more than 30hrs. Where could the iPod device go next? Rumors are readily available. From portable fitness instructors (for that Apple filed a patent), to some multimedia player with eBook abilities, which would be in competition towards the Amazon Kindle.
Whatever it will be it will encompass some of the same innovations that people have seen till now. It is almost trivial to predict that we will have in increase in the quantity of storage space in the iPods from the next generation. What we can aspire to see are further changes towards the very definition of Portable Press Player. An eBook reader? Certainly! Further segregations in the iPod device line, targeting specific user kinds perhaps.
An even smaller "pico" iPod device? With Apple doing the development, it is hard to predict where they may go, but what you can get, is the unexpected. The Music player is long gone, replaced by the Portable Press Player to encompass the much wider number of formats that the players can handle playing today. But hey, a person needn't worry; you can nevertheless call it an iPod.