It's expected a feature of the next iPhone will be 4G LTE, considering the device is available on networks supporting the fast cellular connections. Analysts are predicting 4G LTE will create parity between the iPhone 5 and other Android devices, such as the Samsung Galaxy S3, which offers 4G LTE.

As reported by Barrons Travis McCourt, of Raymond James, said the device will grow in popularity on U.S. carriers Verizon and Sprint despite AT&T selling the most iPhones with its less-than-consistent service. 4G LTE will be part of the drive and will bring the device closer to Google's high-end Android devices.

"We have assumed that AT&T loses a bit of share this year, and Verizon has an especially strong 4Q due to its already large sales of LTE-based Android devices, which we believe will take a severe hit to demand when a LTE-based iPhone is announced," McCourt said. Apple typically adopts technology when it sees long-term potential; 4G LTE hasn't been widely supported in Europe.

The iPhone 5 is expected to launch around October. As reported by DDaily, it's claimed Samsung will hold a Mobile Unpacked event for the Samsung Galaxy Note 2. The report claims the event will take place August 30 at 7PM in Berlin, which would take the spotlight away from Apple. Samsung built hype around the Samsung Galaxy S3 earlier in 2012, before Apple announced the new iPad.

Recent photos showed off a tweaked iPhone design, which was taller and slightly wider while retaining the form factor of the iPhone 4 and 4S. Consistent rumors have pointed towards a 4-inch iPhone, with Android smartphones offer close-to-5-inch screens.

It's also expected that Apple will pack iOS 6 (previewed at WWDC in June) in iPhone 5, with some users hoping a UI redesign will be unveiled as the current grid-based app layout has been used since the iPhone debuted in 2007. Android offers widgets and multiple home screens, while Windows Phone 8 supports three different tile sizes and is the most unique of Apple, Google and Microsoft's mobile operating systems with its tile-based aesthetic.