Apple’s next-generation iPhone will be slimmer than its current iPhone 4 and iPhone 4S models according to a new report, and it may feature a quad-mode chipset that will work across all 3G and 4G LTE networks. In a note to clients on Friday, Morgan Stanley analyst Katy Huberty wrote that Apple’s business will continue to grow despite slowing demand high-end smartphone market. Mirroring a small piece of countless reports, Huberty says Apple’s next-generation “iPhone 5” will feature a new slimmer case. The iPhone 5 will also feature a new quad-mode chip from Qualcomm that could allow it to operate on all 3G and 4G LTE networks, Huberty wrote. Finally, the analyst says Apple will launch the next-generation iPad 3 tablet some time in the first half, at which time it will lower its price on the current iPad 2 tablet to attract a broader range of customers. BGR exclusively reported last month that Apple is preparing to launch a completely redesigned iPhone this fall with an aluminum case and a rubber or plastic bezel that will cover a new wrap-around antenna.