Apple is always in the news either for its iOS-based iPad or the next generation iPhone, with the latest Apple device doing rounds on the web being the rumored iPhone 5S with leaks and speculations surrounding the device almost every day and now, per reports, details about the smartphone’s hardware specifications have just surfaced.

The details have been passed on by Jefferies analyst Peter Misek who seems to have a bit of knowledge about the kind of hardware specifications the fans will witness with the arrival of the next iPhone. Misek believes that the new hardware could be a big departure from iPhones of years past.

Misek, in the past, has had seen favorable luck when discussing about the iPhone in the past with few of the predictions hitting the bull’s eye, while a few missing out by a large distance. However, it can be assumed that the truth could lie somewhere in between with the same happening with the upcoming iPhone 5S (or whatever it may be called on release).

Misek is predicting that the iPhone 5S will feature a new "super HD camera/screen, a better battery, and NFC," and "possible updates include an IGZO screen for Retina+, 128GB storage." He also believes that the new Apple phone will come in six to eight different colors, most probably similar to the iPod Touch which also comes in a boatload of colors.

It has also been stated that Apple will be returning to mid-year releases with the release of the next iPhone, and that the device is slated for a release in June next year. However, when asked by Business Insider as to why Apple will be going back to the mid-year release plan, the analyst didn’t answer.

Nonetheless, Asymco-based Horace Dediu may have an answer to this and why Apple would speed up its release cycle.

Dediu’s report quotes former Apple CEO John Sculley who states: “I think they’re going through a very significant change now in terms of product cycles.”

“Traditionally Apple introduces products once a year; now it’s really introducing products twice a year. The complexity of that from a supply chain is immense, and Apple seems to be doing it well. So, I think that people are underestimating just how well Apple is run, and just how successful the company can be when it gets to that twice-a-year product introduction cycle.”

As mentioned earlier, the next iPhone is currently rumored to arrive next June.