We all know that a new iPhone will be hitting stores’ shelves this year, but what exactly will this device bring to the table?

As soon as a new iPhone is announced the next wave of rumours begin. Surfacing today is a report from iMore noting that Apple is planning to announce the follow-up to the iPhone 5 with the iPhone 5S (if that’s what it would be called!) sometime this summer, possibly in August of this year.

As for the design, no plans for this new iPhone 5S to come with a laser keyboard or holographic display, but will keep the same overall general style as the iPhone 5 and come with a better camera and faster processor – possibly “A7.” According to previous rumours the iPhone 5S will also come with a fingerprint sensor under the home button for added security, plus additional details revealed camera will have an improved LED “SmartFlash” sensor.

More specific rumours point to a 13-megapixel camera, and a storage capacity as high as 128GB. 

Without compromising with overall design and thickness of casing, Apple is trying to raise the bar of upcoming iPhone 5 only to stay above than the competition.

Despite of high-sales of iPhone 5 and iPad Mini, the year 2012 remained below expectations for Apple and for investors. However, with a line of products reportedly scheduled in 2013 at regular intervals – Apple iPad Mini 2 in April, Apple iPhone 5S in August and Apple iWatch by end of the year – last three-quarters could make Apple swipe off the market beating expectation with significant margins.