The latest update on the much-awaited iPhone 7 suggests that the Apple device will consist of handful specs and features as compared to the iPhone 8 smartphone. However, there is a looming possibility that the iPhone 7 would probably fail to woo in many customers due to the dearth of great functionalities.

The Street reported that according to an analyst at Credit Suisse, Kulbinder Garcha, the upcoming iPhone 7 would be overshadowed by iPhone 8, which is expected to be released next year to mark the iPhone's 10-year anniversary in 2017.

Kulbinder said that the iPhone 8 would feature many significant innovations related to software upgrades in contrast to the trivial expected improvements in iPhone 7. These reports have emerged all over the Internet as the upcoming Apple device is expected to feature slight design modifications like thinner case and more internal storage.

On the other hand, it is reported that the iPhone 8 would probably boast radical changes like a full glass casing display, an OLED screen, no home button, enhanced camera features and wireless charging facilities. "Acknowledging the higher level of uncertainty around the quality of the product cycle near-term, we still see solid risk reward arguments," said Kulbinder, as reported by MIC.

Meanwhile, Garcha also stated in his report that Apple would be able to witness higher demand for the iPhone 8 as compared to the upcoming iPhone 7 smartphone. Mirror reported that the rise in demand would also lead to higher selling prices, according to the Credit Suisse analyst. It is being rumored that the iPhone 7 would be priced for $653, while the iPhone 8 has high chances to be priced at $667.

In contrast to the predictions made by the Credit Suisse analyst, some reports suggested that Apple is expecting high iPhone 7 sales this year. It is also rumored that in order to meet the huge demand, the US-based company has ordered its manufacturers, Foxconn, and Pegatron, to produce around 72-75 million devices this year.