The New iPhone: Launch July 17th

Specs:

32GB and 16GB storage (up from the current 16GB and 8GB models)

$199 and $299 price points to be maintained

3.2-megapixel camera (up from the current 2-megapixel camera)

Video-recording and editing capabilities

Ability to send a picture & video via MMS

Discontinuation of the metal band surrounding the edge of the device

OLED screen

1.5 times the battery life of the current models

Double the RAM and processing power

Built-in FM transmitter

Apple logo on back will glow

Rubber-tread backing

Sleeker design

Built-in compass

The camera, GPS, compass and Google map combined will identify photo and inform about photo locations

Turn-by-turn directions