Though the pre-sale hype of rumors around iPhone 5 has gained some extension to play with, hold your breath a little more - the iPhone 5 will be worth the prolonged wait, because the upgrade is now said to be more significant than expected.  

Analyst Shaw Wu with Sterne Agee was quoted by Apple Insider for stating, "We are picking up that this interim iPhone refresh in the Fall timeframe could be a bigger upgrade than we expected."

According to Wu, "We believe this keeps the iPhone fresh and competitive and helps maintain its leadership position."

John Paczkowski of All Things D, in its latest report about iPhone 5 release date, claimed that Apple's next-generation iPhone will be released in October, not September. 

Paczkowski's sources with knowledge of the situation declined to offer a specific date, but said the hotly anticipated release of iPhone 5 is going to be October. Other sources claimed the launch will be later in the month, instead of earlier.

If you're determined to buy this device upon its release, let's wish that the rumored extension of waiting time indeed means a better product than expected.  

Supply chain sources have indicated that the new iPhone will feature a slightly larger display than the current 3.5-inch screen found on the iPhone 4, while maintaining a similar form factor and size to the iPhone 4 says Apple Insider. Better yet, the iPhone 5 will sport a thinner bezel, said same sources.

Through self-generated rumors and speculations, Apple has successfully branded its upcoming iPhone 5, with so much expectation from customers that 1 in 3 Americans is reportedly planning to buy an iPhone 5 whenever it is released. According to a recent survey indicates of around 3,000 U.S. consumers by PriceGrabber.com, 35 percent of shoppers have set their hearts on the upcoming iPhone 5, whose features we are yet to know.  

Among the expectations, the most common desire was to have a longer battery life in the iPhone 5 (59 percent), followed by a lower price (55 percent).

Apple's success in gaining its customers' readiness to buy a yet-to-be-unwrapped iPhone 5 has to do with the company's consistency in delivering smartphones consumers want, the simplicity and user-friendliness of Apple products, and the users' trust and confidence in the iPhones. Not many expect Apple to stumble with any upcoming iPhone.

Before finding out bugs and problems, people tend to like dreaming of the most perfect features possible, and unsurprisingly, that desire is fueled and stimulated by the tremendous amount of rumors and speculations.

 Over the last few months, numerous features were discussed by tech Web sites and in the blogosphere.

Following are some of the speculated features of the iPhone 5:

Worldphone:

Apple is expected to release iPhone 5 as a 'Worldphone' - both GSM and CDMA compatible. It is conjectured that the phone will have a SIM-less design with 3-4 antennas.

Another rumor suggested that the iPhone 5 will feature a SIM card slot for other countries except US. This will allow users to insert any SIM card in iPhone when traveling abroad.

Better Camera:

Apple has really improved the camera department on its iPhone 4 by fitting a 5 megapixel camera with LED flash.

Apple's iPhone 5 is expected to sport an 8 megapixel camera. It has been reported that OmniVision/Sony would supply 8 MP camera sensors.

Processor:

There is also near unanimity in gadget circles that Apple will bring its A5 chip on to the iPhone 5. The A5 processor is the same which Apple rolled out to power its iPad 2.

Apple lists the A5 to be clocked at 1 GHz on the iPad 2's technical specifications page, though it can dynamically adjust its frequency to save battery life.

Apple may boost the speed of its A5 chip in the range of 1.2 or 1.5 GHz as several Android smartphones are coming with 1.2GHz processor.

NFC Support:

Apple may fit a near-field communication (NFC) chip in iPhone 5 as some high-end Android devices are expected to sport NFC chip.

NFC allows for simplified transactions, data exchange, and connections with a touch. A smartphone or tablet with an NFC chip could make a credit card payment or serve as keycard or ID card.

NFC devices can also read NFC tags on a museum or retail display to get more information or an audio or video presentation. NFC can share a contact, photo, song, application, or video or pair Bluetooth devices.

Better Display:

Apple is rumored to increase the screen size of iPhone 5 to compete with Android smartphones, probably going for a 4-inch screen. iPhone 4 has a 3.5-inch screen.

Better Battery Backup:

We can expect a great battery life in iPhone 5 as Apple has a record of improving battery life with its every coming product. The iPhone 4 has 40 percent more talk time than the iPhone 3GS.

There are expectations that the upcoming iPhone should improve on its battery metrics to handle its sophisticated features.

Currently, iPhone 4 offers talk-time of up to 7 hours on 3G; up to 14 hours on 2G (GSM model only) and standby time of up to 300 hours. On the Internet usage, the device offers up to 6 hours on 3G and up to 10 hours on Wi-Fi.

iCloud:

Apple's iPhone 5 is expected to feature the new iCloud service in operating iTunes for wireless remote access of music from all computers and mobile devices.

iCloud will also store photos, apps, calendars and documents without storing them onto the phone's memory storage. Apple also placed itself in top position of the cloud war by inking deals with top music label companies to license songs for the iCloud service.

Added to that, there are rumors that Apple is stepping into the movie scene by attempting to license deals for films with movie studios.

iOS 5:

iOS, known as iPhone OS before June 2010, is Apple's mobile operating system. The user interface of iOS is based on the concept of direct manipulation, using multi-touch gestures. Interface control elements consist of sliders, switches, and buttons.

Apple's iOS 5.0, which is the newest of the OS versions, was announced on June 6 at the WWDC 2011 keynote address. The new iOS 5 is expected to come with 200 new features that will include Improved Notifications System, News Stand and iMessage.

Apple's iOS 5 will introduce the iCloud service and the Notification Center, as well as improvements to native apps such as Camera. The operating system also features new applications, such as the Reminders app and Newsstand, an application resembling Folders and iBooks.

Unlike other applications, Newsstand is the first native application to actually run on the homescreen. iMessage is an application that allows iPod touch, iPhone, and iPad users to communicate, much like a chat service only used between these devices. The iMessage feature has been integrated into the SMS/MMS application used originally on the iPhone models.

More Carriers:

Apple is expected to release iPhone to more carriers in the U.S.

When iPhone 4 was launched at AT&T, it faced several complaints of dropped calls and network outage, especially in New York and San Francisco. However, when Verizon began carrying iPhone, there are not many issues with the network.

If both AT&T and Verizon simultaneously carry iPhone, it's also possible that the migration of some AT&T iPhone customers to Verizon will relax some of the AT&T's network.

There are reports that the next iPhone may also come to Sprint.

 

Given the time buyers have already waited plus the added endurance for next two months, the mounting speculations for the exciting upgrade for the iPhone had better come true.