The 16 GB model is $199 instead of $229, the 32 GB model is $249 instead of $299, and the 64 GB model is $299 instead of $399. The pricing for the iPod Touch had also changed.

On June 26, 2014, it was replaced with a new 16 GB model that no longer omits the rear camera and full range of color options. The first 16 GB model, introduced on May 30, 2013, was only available in one color combination (black screen with a silver back) and lacks the rear iSight camera, LED flash and the iPod Touch Loop that is included in the 32 GB models.

The device was initially only sold in 32 GB and 64 GB models. It initially featured with a black screen and slate back and a white screen with five back color options including silver, pink, yellow, blue, and Product Red, however on the release of the iPhone 5S the slate color was changed to space gray and all the other colors remained unchanged. The fifth-generation iPod Touch was released with more color options than its predecessors. Other improvements include support for recording 1080p video and panoramic still photos via the rear camera, an LED flash, Apple's A5 chip (the same chip used in the iPad Mini (1st generation), iPad 2, and iPhone 4S) and support for Apple's Siri. Like the iPhone 5, the fifth-generation iPod Touch is a slimmer, lighter model that introduces a higher-resolution, 4-inch screen to the series with 16:9 widescreen aspect ratio, similar to the iPhone 5, 5C, and 5S.

It is compatible with up to iOS 9.3.5, which was released on August 25, 2016. with a touchscreen-based user interface, it succeeded the 4th-generation iPod Touch. A mobile device designed and marketed by Apple Inc. The fifth generation iPod Touch (stylized and marketed as the iPod touch, and colloquially known as the iPod Touch 5G, iPod Touch 5, or iPod 5) was unveiled at Apple's media event alongside the iPhone 5 on September 12, 2012, and was released on October 11, 2012.

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