The rumored iPhone 5s is said to have a higher-end processor and a higher-end megapixel camera. It may also include fingerprint technology that will usher in a new era of mobile payments.
Components for the latest iPhone model will begin shipping in May, with release sometime during the summer.
Analysts at Canaccord Genuity and Topeka Capital Markets have both issued investor reports that point to a summer or third quarter release date for the iPhone 5S based on checks on Apple's supply line.
According to Forbes, the hottest new feature of the iPhone 5S may be a mobile payments feature.
While it is still based on speculation, there are a few clues that hint to the technology.
First, Apple bought a company called AuthenTec last year for $356 million. AuthenTec provides mobile security software licenses and fingerprint sensor technology to companies.
The mobile company's fingerprint technology was used in Japan's smartphone to authenticate mobile payments on mobile phones.
However, Apple may just release the iPhone 5S with enhanced features over the iPhone 5 and wait until the iPhone 6 to announce something more cutting-edge.