American Technology Research's analyst, Shaw Wu, predicts (requires subscription) that Apple will release a new iPod shuffle during MacWorld on January 2006.

Wu, believes that the new version of the shuffle will be smaller and will be offered in several colors, including black. Apple will use NAND chips from Hynix on this new iPod, according to the analyst.

The new iPod shuffle is expected to be priced like the current one and with the same storage capacity: $99 for the 512MB model and $129 for the 1GB one.