Latest rumors about the release of the iPhone 5 suggests that the launch date for the highly anticipated Apple handset has been bumped up to August to compete with the Samsung Galaxy S3. Samsung's latest handset, dubbed by some as the "iPhone killer," finally rolled out in the US this week and according to various reports, Apple is keen to get the phone out sooner than later to compete with Sammy. The rumors were first reported by Taiwan's Central news Agency. 

Previous reports suggested that the iPhone 5 will be released no earlier than October, which would have been one year after their iPhone 4S release. Apple continues to keep keep quiet about the launch date of the iPhone 5. 

The Samsung Galaxy S3 is becoming one of the fastest selling smartphones of all time. 

But does Apple need to fear the strong competition from the Samsung Galaxy S3?

According to 9to5Mac, Foxconn's CEO Terry Gou recently told Chinese media that the next generation iPhone will "put Samsung's Galaxy S3 to shame." However, he did not provide any specific specs that may be superior to the Samsung Galaxy S3.

Rumors speculate that the iPhone 5 will come with a 19-pin dock connecter rather than their traditional 30-pin doc connector. It will be the size of a micro USB connector. TechCrunch's John Biggs said: "Although the form factor and actual size are still unknown, TechCrunch has independently verified that Apple is working on adding a 19-pin port, replacing the current 30-pin port, to the new iPhone. It is a move that will surely send shocks through the iPhone accessory ecosystem."

The specs for the phone will feature a bigger screen, measuring at 58.47mm wide, 123.83mm high and 7.6mm thin.

The phone is expected to come with 4G LTE and the new iOS 6. 

Tags: iphone 5 apple