As discovered by MacMinute, Apple Computer has used the cover of Newsweek Magazine to reveal the newest generation iPod. White like the third-generation iPod, the newest iPod now sports a Click Wheel and thickness similar to the iPod mini, in addition to a six-line (3G iPod-style) black and white screen.
In the original photograph (right, credit Newsweek via MacMinute), the screen appears to suggest that Apple has preserved the traditional iPod font and interface, but modified the menu structure to further simplify access to the device’s multiple features. Kudos to Steven Levy on securing the exclusive Newsweek article.

Update: Having obtained an advance copy of Newsweek’s iPod article, The Mac Observer reports that Apple will formally announce the new iPod on Monday, July 19, 2004, and notes that additional photos indicate that in addition to being thinner than current 3G iPods, it may also have a slightly smaller footprint. Check back with iLounge for additional photos and details soon.