Though the iPhone 5 is still creating a frenzy among tech lovers, reports cannot help but speculate and run with the thought of the upcoming iPhone 6, also known as the iPhone 5S.

Apple knows how to make a statement in the market but with handsets such as the Samsung Galaxy S4 and HTC One, can they stay up to par?

A "handful of analysts" predicted that the iPhone 6 will be released in the summer of 2013 and perhaps in June, The International Business Times reported in January. However, reports noted that Apple is looking to switch to a 6-month cycle instead of a 1-year cycle with the iPhone to be more aggressive against competitors. If that is the case then handheld enthusiasts may see two iPhone launches this year: one in the second quarter of 2013 and another in the third or four quarter.

Money Morning predicted that the iPhone 5's lack of NFC and massive display is because Apple has an even better phone ready for a spring release. On the other hand, Tech Radar bet on a springtime 5S model and a bigger and more updated iPhone 6 version to be released in autumn 2013 "probably September."

As far as pricing, analysts at Expert Reviews gave an estimation that might be in the $800 to $1,100 range. It based its price estimates on the iPhone 5, claiming that Apple typically releases new models at the same price as its predecessors, "and we can't see it introducing a more expensive phone into this tough market."

Many are more concerned with what the new iPhone will entail in terms of specs. Thanks to the recent launch of a 128GB iPad 4, rumors of a 128GB version if the new iPhone are more likely to be true since we now know that Apple has the capacity to work with such a storage space model. The new model doubled the maximum capacity of the previous iPad, which is a 64GB model. The iPhone 6 will also likely have a Sharp IGZO (Indium Gallium Zinc Oxide) screen that requires less power and is slimmer than that which the iPhone 5 has.

Speculation regarding iPhone 6's display began ever since the Sharp IGZO technology was displayed at The International Consumer Electronics Show in January 2013. Similarly, why would Apple not go after the latest operating system to perhaps have an edge over its competitors? The iOS7 is reportedly on its way and might end up making a collaboration with Apple's latest iPhone gadget.

One innovative feature the new iPhone is rumored to possess is a technology dubbed as Synchronized, Interactive Augmented Reality (AR) Displays for iDevices. The system, which Apple reported invented, allows users to make 3D video calls and 3D video conferencing. The "linking technology," in the words of The News Tribe, is a method of information sharing with a number of devices through the use of a Share button. The technology's usage includes Object Identifying, Distance Learning, Medical Application with the help of Patent Recognition and Vehicle Application.