By Keerthi Chandrashekar / Keerthi@latinospost.com (staff@latinospost.com) | First Posted: Jan 28, 2013 10:02 AM EST

(Photo : Apple)

We all know that a new iPhone will be hitting stores' shelves this year, but what exactly will this device bring to the table? According to the latest rumors swirling around the tech world, the next iPhone should be sporting a 13-megapixel camera, a more powerful processor and could have a storage capacity as high as 128GB. 

A new report from Apple-centric website iLounge states that the next iPhone should include a 13-megapixel sensor from Sony, and release sometime in July. iLounge also mentions that the iPhone 5S will feature a more powerful processor, probably a new A7 chipset and that the current iPhone prototypes are labeled N51 and N53. 

Current iPhones top out at 64GB storage, but that all could change with Apple's next-gen offerings. Astute observer iNeal (via iDownload Blog) noticed that the iOS 6.1 beta includes an option for 128GB in the SystemPartitionPadding column, meaning that Apple is definitely exploring the idea of allowing iOS to run on higher capacity devices - and you can bet the iPhone will be one of them. 

A 13-megapixel camera and 128GB should be the norm for high-end smartphones coming out in 2013. Just last year, Samsung announced that it had started mass producing 128GB memory chips for use in smartphones and tablets, indicating that the capacity should be proliferating itself rather quickly. With more apps and media content than ever at people's mobile fingertips, many would welcome a 128GB option, which is a 100 percent jump over the existing 64GB standard. 

There are talks of a bigger iPhone, a cheaper iPhone, and iPhones in a multitude of colors, but nobody is quite sure how many iPhones will be releasing this year, or when. One thing is for certain though: Apple is eyeing its Android competition more closely now, and will be aggressively releasing more iPhones closer to each other than ever before in an attempt to give consumers enough options to choose iOS over Android.  

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