Slimmer Design iPhone 5
The iPhone 5 has been spotted in Apple's inventory, addressing, or perhaps, fueling, rumors. Reuters

When Apple announces its much-anticipated new iPhone on Tuesday, one of the key features consumers are likely to find in the product is three storage capacities - 16GB, 32GB and 64GB.

According to manufacturing sources, Apple has been making prototype 64GB versions. Therefore, it's quite likely that the tech giant will roll out the new iPhone with 16GB, 32GB and 64GB capacities, just like the iPad.

The imminent smartphone has been listed in the company's inventory system as SKU N90A and will be released in the three storage capacities, according to a 9to5Mac report. The report also expects a modified and updated iPhone 4.

The latest iTunes beta had several references to a CDMA iPhone 4S, but once they were discovered, all references were immediately pulled from the developer's site. The leak was found inside the ninth build of iTunes 10.5 released Friday.

According to MacRumors, the references to the iPhone 4S have been in the iTunes beta since last August. The screenshot showed that for iPhone 4S, the same image icon as the iPhone 4 CDMA was used, suggesting that the impending iPhone will most likely be called the iPhone 4S and its look will match the Verizon CDMA iPhone 4, said the report.

Last month, AppleInsider also fueled iPhone 4S speculations, reporting that Repair India had sent it new parts, purportedly for an upgraded iPhone 4. The parts are reportedly sourced from Shenzhen in southern China and are claimed to be a soon-to-be-released iPhone 4S model. The supplier of the parts also claimed that there will be no iPhone 5 this year.

The fifth-generation iPhone is expected to run on iOS5, and the new OS will come with 200 new features that include a Newsstand and iMessage. The new iPhone is also expected to sport the new iCloud service, which will provide users with wireless remote access to iTunes and music from all personal computers and mobile devices.

Furthermore, some of the more discussed features that the iPhone5 is expected to carry are a fast 1.2-to-1.5 GHz, dual-core A5 processor chip, 1GB of RAM (there are also rumors about 512MB of RAM), near-field communication technology and enhanced battery life.

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