Cirrus Logic, one of Apple's better known component suppliers, is at the center of swirling speculation about the possibility of Apple working on a yet-to-be released new product. Cirrus, which supplies audio chips for Apple's iOS devices, is believed to be encountering manufacturing problems and other setbacks related to an Apple product.

Cirrus late Thursday said it had determined an earlier test for a particular function of a new audio product--which analysts assume is for Apple--was insufficient to guarantee that all products met a certain standard. After a more rigorous test was developed, Cirrus found fewer working chips than previously expected, with that yield loss rising as volumes increased.
It is highly doubtful that the device in question is the iPhone 5, as there is little or no credible evidence to suggest that production may have already begun on the 5th generation handset. Could it be the iPad 2? Possibly. But sources contend that further production delays may inhibit "product launch." The second-generation tablet, as we know, is already here, and there's no reason whatsoever to suspect that the iPad 3 is in production.

Do where does this leave us? Perhaps Apple is readying an iPod refresh of some sort. Or, as the case may be, Apple could be developing a new "new audio product" the likes of which we presently cannot envision. Either way, Cirrus Logic is telling us that something is in the works. It just isn't clear yet if that "something" is anything to really get excited about.
Source- modmyi