Apple launched its iPhone 4 in June 2010 and current reports affirm that the next version of the device the iPhone 5 is due this June.

The industry is abuzz with reports of next generation features that the new iPhone will don. Key assumptions include a new processor, a larger display, NFC support and possibly a sliding cover.

Apple Insider reported citing that a photo of a part claimed to be from iPhone 5 appears to be a 30-pin dock connector cable and a ribbon used to attach it to the handset. The report also claims that Apple is working on an iPhone with a sliding cover.

CNET reported that iDealsChina posted a picture which it claims is the front bezel or digitizer panel of iPhone 5 and the picture seems to suggest that the display is larger. Reports have been swirling that Apple will launch the next iPhone with a 4-inch display.

However, much fodder for assumption will tumble out when Apple releases its iPad 2 on Wednesday. Apple launched its iPad in April last year and the processor used in the tablet wound its way into the iPhone. It is expected that iPad 2 will run on SoC the A5, a dual-core Cortex-A9 chip design. It is also reported that the iPad2 processor will be employing the SGX543 graphics support. The current iPad uses SGX535 graphics support. This addition will bring 1080p video capability to iPad 2. Thus, the very same processor maybe used to power the iPhone 5.

Also it is surmised that iPhone 5 will pack in 3D support and NFC features. Android 2.3 brought NFC capability to limelight when it launched its next upgraded version of Android the Gingerbread.

Though assumptions about the feature that iPhone 5 will pack will continue the best point of reference could be the competition. iPhone 5 will compete with Android 2.2 phones like Motorola Atrix, Samsung Galaxy 2, Droid Bionic,HTC Thunderbolt and Kyocera Echo. Phones that sport killer specifications and point-of-disparity that iPhone will have to match like the docking support that Atrix offers.

Here is a list of top five Android phones that iPhone 5 will have to contend with: