I don’t think anyone would disagree when I say that Apple is dominating the portable audio player industry with the iPod line. That said, it’s quite clear what is the weakest link in that line-—the iPod Shuffle. Its storage space is substantially smaller than the rest of the iPod line, and perhaps most substantially, the shuffle lacks a display.

So, AppleInsider has unearthed rumours that the iPod shuffle could be undergoing a rebirth this January. The exact changes involved are still fuzzy, but an American Technology Research analyst has “heard” that Apple may make the shuffle smaller. Other industry experts suspect that more storage space may be in the works. A simple LCD display may find its way on the shuffle. Or get this, it may come in *gasp* colour. That’s right, you can actually choose a colour other than glossy white.

The shuffle is clearly an entry-level player, and if Apple throws in a couple simple things—-like a display-—they could be shuffling all the way to bank.