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iPhone 5 rumors are going into overdrive this year and as Steve Jobs chose to skip any announcement of the device in WWDC, rumors are warming up that the next iPhone 5 or iPhone 4GS will be here in September. A report  today said that iPhone 5 will sport the new dual-core processor that can be found in the iPad 2. It also is said to have much more enhanced camera.

The new camera will be a 8 megapixel camera which is really high class considering how good the 5 megapixel camera is already in the iPhone 4. The report also said that the next generation iPhone would look similar to the latest one however another rumor is flying around that the new iPhone sports a radical design change.

The only thing the report left out is the screen size. The market is introducing phones with large screens while iPhone seems to be staying with the same screen size. Critics say that the iPhone is at the right screen size for all its needs. Any increase or decrease in screen size will result in the market rejecting it.

Another target that Apple might be trying to get to is to have a cheaper iPhone out there to compete with the Android in the market. This way Apple can monetize on a market where iphone will be dominated rather than sell an expensive device. Apple does hold an event in September that’s generally focused on the iPod and we can’t wait to see what it has up its sleeves.

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