New rumors point to ultra-thin iPhone 7, 12-megapixel iPad camera

In fact, Ming-Chi Kuo of KGI Securities reckons the iPhone 5s price could tumble to just $225 (£160).

MacRumours said: 'According to a source who has provided reliable information in the past, the iPhone 7 body will appear very similar to the design used for the iPhone 6 and 6s, with two significant exceptions.

The Mac Otakara report in question also talks about the lightning connector, and how it could further be thinned down by Apple. Rumor has it that the iPhone Pro could feature a dual lens camera at the back. On matter pricing, the phone will be priced from between $400 and $500, which will be a major discount when compared to what the current flagships cost, for instance, iPhone 6 now costs about $549 for the base model.

Apple will also drop the 3.5mm headphone jack on iPhone 7. There will also be no headphone jack on the new model due to the revamped Lightning port, which will now double as a jack. As it stands now, the device's launch is shaping up to be the biggest design surprise we've had in years. I look forward to seeing what interesting features Apple has planned for the so-called iPhone Pro.

Now, the camera on the iPhone 7 could sit flush with the casing thanks to a slimmer camera module. However, the NY magistrate recently ruled out the order claiming that Apple could not be forced into breaking into anyone's privacy.

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The iPhone 7 is expected to be unveiled around September, with availability shortly after.

During the same launch event, Apple will also release a smaller 9.7-inch version of last year's iPad Pro.

Macotakara also claimed that the iPhone 7 and the iPhone 7 Plus will have dual stereo speakers, a first for the iPhone which has always had a single mono speaker since it first debuted in 2007.

As the rumored Apple-hosted event may take place this month, more speculations about the company's next generation device are circulating online.

The plastic casing of the iPhone 5c, turned away many potential customers despite being offered in multiple colors so that is truly off the table as that model was a tremendous flop. According to the Japanese Apple rumors blog Mac Otakara, several posts on China's Weibo social network suggest the next iPhone will sport a new design.