The Holy Grail of smartphones, the iPhone, is sure keeping the rumor mills busy with leaks after leaks and iFans, it seems, cannot get enough of the Apple delirium. Close on the heels of the Kitguru iPhone 5 photo leak on July 12, comes yet another photo leak - this time by Taiwan-based blog Apple.pro. The leaked photographs showcase a device with a white front panel (of the supposed iPhone 5), which is overall similar looking to the iPhone 4/4S with no marked design changes.

According to 9to5Mac, the leaked image is a first-ever sneak-peek into the white front frame for the impending iPhone 5. The images also indicate a shift in position for the FaceTime camera, which has now moved to the top-center of the device, above the ear-piece speaker. In the past few months, several reports have suggested that the new iPhone will sport a 4-inch screen as opposed to the current 3.5-inch one. The larger frame size and slightly elongated design change shown in the leaks is indicative of a possible bigger display. However, the iPhone 5's looks may disappoint those who were hoping for a Liquidmetal design. The iPhone will likely be available in two color variants - Black and White, which are the current iPhone 4S options.

In a primarily Android-dominated smartphone market, the iPhone's display, despite its larger screen size change, is still significantly smaller than its rivals with 4.3-inch to 5-inch displays on offer. Moreover, its challengers are diving head-on and looking at ways to increase their consumer popularity and attractiveness by offering smartphones in multitude color schemes - as opposed to Apple's staid black and white options.

The buzzword is that the iPhone 5 will also have a few tweaks, LTE 4G network support, redesigned speakers, and will denounce the 30-pin port in favor of 19-pin one. The circulating rumors seem to be in tandem with the photo leaks, even though their authenticity is questionable.

IHS analyst Wayne Lam told Wired.com that "we shouldn't try to glean too much from the openings on the front of this purported sample". Commenting on the surfacing images of what could be mock prototypes, Lam said that "Apple is very good at creating decoys".

The excitement around Apple's hypothesized product, which the company interestingly is yet to confirm, continues to grow in leaps and bounds. A recent report by Japanese website Macotakara, quoting sources in China, says that the production of the expected iPhone is already underway. Pundits conjecture that the new iPhone, dubbed the iPhone 5, will be unveiled sometime in October this year around the same time as last year's iPhone 4S launch.

With expectations riding high the iPhone 5 has much to live up to. If Apple eventually does announce an iPhone 5 it will be interesting to see how the smartphone fares in the current environment. Given Apple's undisputed stronghold and track record, it should be a walk in the park for the Cupertino-based giant.