Rumors are rife that Cupertino-based consumer electronics giant Apple Inc will remove Google Maps in favor of the company’s own navigation software in iOS 5.

A new software, Map Data, is expected to be introduced replacing Google Maps that will pave the way for various third-party navigation and mapping firms like Localeze, TomTom, CoreLogic and Getchee to name a few.

Previously, Apple signed deals with mapping companies like Placebase and Poly9. The company also hired engineers with knowledge and experience of mapping and navigation, who joined the iOS developing team. In April, Apple revealed that the company is designing its own traffic database ending several media speculations about the new iPhone location tracking technology. Apple's iOS 5

Google’s former CEO Eric Schmidt, at the D9 conference last month, said the search engine giant had renewed the Map, along with the Search agreement with Apple. However, reports of an Apple-powered mapping technology seems to be in contention.

The MacRumors website said Apple is working on a new mapping technology but it may or may not be ready for iOS 5 and users may have to wait longer for the new service to unveil.

Apple previewed the iOS 5 earlier this month at its annual WWDC (Worldwide Developers Conference) held in California. The advanced OS has more than 400 new features including AirPlay mirroring, over-the-air updates, a superior messaging solution, and a notification center.

iOS 5 will be released later this year, PCMag reported.