The latest rumors about the upcoming iPhone 7 specs touted that the smartphone might be completely water-resistant. Reports claimed that with the new feature, Apple is planning to regain the market share already lost to its arch-rival South Korean giant Samsung and thus provide a tough competition.

Quartz reported that the latest iPhone 7 will be totally waterproof based on the patent awarded to Apple. According to the patent details, a new system will be incorporated into the device, which will enable it to take pictures under water.

Meanwhile, the statement made by Apple co-founder Steve Wozniak has hinted that the Cupertino-based company might think of retaining the headphone jack in the new iPhone 7. Wozniak stated that Apple should rethink their decision of removing the port as it might lead to a decrease in sales this year.

"If it's missing the 3.5mm earphone jack, that's going to tick off a lot of people," said Wozniak, as reported by CNET. "I have cars where you can plug in the music, or go through Bluetooth, and Bluetooth just sounds so flat for the same music."

The top executive also hinted that the upcoming phone will feature USB Type-C ports for faster data transfers. Nonetheless, if the company is planning to make the iPhone7 waterproof then losing the headphone jack will be the best option, as its existence might pave way for the water to enter into the smartphone.

Apart from the water-resistant feature, the new iPhone 7 will run on the latest iOS 10 along with A10 chipset. It is also expected to sport two sensors that will help to click photographs simultaneously, according to Bloomberg.

Meanwhile, the rumors hinted that the release date of the upcoming Apple device is set to be September 7, 2016. However, no official confirmation has been provided by the company.

Stay tuned here for more updates on the upcoming iPhone 7.