Ever since the new iPad was released, tech fans have turned their attention to Apple's next forthcoming innovation: the iPhone 5. The Cupertino-based company's next generation smartphone isn't expected to launch either this June or October, and the rumor mill has been churning with speculations and expectations.

One of the latest bits of information involves the iPhone 4S successor's home button. A leaked image of what could possibly be the new iPhone's home button surfaced on a Chinese vendor website known as TVC-Mall. The picture appears in a portion of the iPhone replacements section that was previously empty, Gotta Be Mobile reports.

The mobile news site also writes that TVC-Mall has posted images on unreleased Apple products in the past, which could make this photo somewhat credible. An image in both black and white was visible on the website, giving tech fans a glimpse at both perspectives. While the button seems to look similar to those of previous iOS devices for the most part, the design does appear to be more squared off. The website's listing noted this distinguishable feature:

Different from the iPhone 4S 4, the iPhone 5 home button is round in the centre and square outside as the pictures show. The two parts are indivisible.

It is unclear exactly how this will play into the device's new features, or how apparent this change will be. It's certainly possible that the rounded part may be depressed below the phone's bezel, making it seemingly invisible to users. However, none of this is for certain until Apple finally unveils its latest creation.

The iPhone 5 is also rumored to be the thinnest smartphone to date, possibly boasting a thickness of 8-millimeters. The new display technology integrated into the latest design will incorporate touch sensors inside the panel rather than on it.

Apple Inc. is likely to use display technology provided by Japanese panel makers rather than Taiwan-based suppliers for it's next generation iPhone, in order to achieve a thinner profile for the device, David Hsieh, vice president of Display Search said to Focus Taiwan earlier in April. After this announcement, it's not surprise that reports are surfacing claiming that the new iPhone may be thinner than ever.

But the iPhone 5 isn't the only surprise Apple has in the works. Rumors are spreading that the company will also launch an iPhone nano to be released in June or September. The China Times reported on April 23rd that a less-advanced version of Apple's upcoming smartphone would hit stores alongside the full version.

In addition, the next-generation smartphone is rumored to feature an OLED display, a more advanced A6 processor chip, improved battery life, and an upgraded version of Siri.

A job posting for a position at Apple's headquarters reveals that the company may be implementing updated power management technologies. Originally reported by Apple Insider on April 17th, the posting said that the new technology would allow devices to be more efficient and run even longer on battery power.

Apple has yet to publicly clarify what this could mean for its products, but users may see some significant changes with its next line of iPhones and MacBook Pros.