Apple's highly rumored iPhone 5, as per reports on the web, is expected to arrive in the summer of 2012 and more precisely in June.

This is being assumed as this agrees with Apple's behavior regarding the previous iPhones. However, both the company and the fans will know that Apple faces a major challenge from Samsung in the form of equally heavily rumored Galaxy S3 which is rumored to boast impressive features.

Here are the top eight features we want to be incorporated in the next iPhone.

An Improved A6 Chipset: Previously, Apple was rumored to bring forward its next generation A6 chipset into the new iPad but that never happened. Instead, Apple integrated the A5X chipset into the device. Now tech enthusiasts and fans all over the world expect an improved A6 processor when the new Apple-made smartphone is launched. Fans are also expecting a quad-core processor.

iOS 6: With the arrival of the new iPad, consumers all over the world have been introduced to iOS 5.1. Now with the release of iPhone imminent later this year, everybody is expecting iOS 6 to power the device. It is also widely believed that the new smartphone will bring the next version of iOS along with it as the company has always maintained the tradition of launching a software upgrade whenever a new device was announced. A newer and better version of Siri is also wanted.

Improved Camera: With the arrival of the new iPad, Apple has introduced 2592 x 1944 pixels, 5MP camera into its tablet with features such as autofocus, touch focus, geo tagging, HDR and face recognition. The previous iPhone 4S also brought an 8 MP camera with autofocus, LED flash, and other features. Apple biggest competitor in the market, Samsung is now rumored to release the Galaxy S3 which is said to arrive with a 12MP camera which can cause problems to Apple's market. Tech nerds all over are expecting a much improved camera from Apple with a dual LED flash when the iPhone 5 arrives.

4G LTE: Currently the iPhone 4S lacks 4G LTE wireless connectivity similar to its predecessors. In January 2011, however, it was reported that Apple had expressed reservations about accommodating the 4G LTE antenna in a small form for the iPhone. Since then, not only has 4G LTE made its way to Apple's new iPad but, reportedly, Verizon and AT&T have been swiftly increasing the reach of their high-speed networks. Now when the new iPhone 5 arrives, fans will be hoping to finally access the 4G LTE network from the new smartphone.

Aluminum Rear: Although Apple had offered an iPhone that came with aluminum back a few years ago, later versions have offered a mostly glass finish. However, most of the consumers prefer the aluminum back which could give the new smartphone a very metallic and sexy look. The device itself is expected to be different from its predecessors, and mount the Corning Gorilla Glass. However, that might raise the cost of production.

Display: Apple introduced a 9.7-inch display size for its new iPad and its new Retina Display features four times more pixels than the iPad 2. The same is expected from Apple when they release the next iPhone 5. Some also want the display to be larger than the current 3.5-inch Apple-made smartphone. At the same time, it is also expected that Apple will provide a beautiful resolution and Retina Display as well.

Smartphone Carriers: Apple has to ensure that the iPhone 5 is available on Verizon, Sprint and AT&T as the new iPad is also available to both Verizon and AT&T users and both offer 4G LTE services. What both Apple and its fans won't want is the company again getting involved in exclusivity deals because this neither helps Apple nor the customers who own or want to own a new iPhone.

Pricing: Apple actually played its cards pretty well by placing the new iPad on store shelves for the same price as that of the iPad 2. If the price would have been higher, the company could have faced a little problem in marketing the new device. Apple fans also expect the same to happen when the new iPhone is announced as that would be beneficial to Apple in the end of the day and would ensure more sales.

(Information from eweek.com)