Editor's notes: The months before Apple Inc's every new product release are always filled with wild guesses.This time is no exception. Although there is still no material proof of a new generation of iPhone, Apple fan sites and tech news sites have been reporting about details of the new iPhone, citing anonymous sources who claim to have an inside access to Apple's new smartphone. Here are some of the features we can expect in iPhone 5. 

A collection of iPhone 5 concepts

It's never too early to start guessing. Enjoy a video clip that puts together  all of iPhone 5 concept designs so far. 

• New! New Lower-priced iPhone 4 in pipeline

Apple Inc's Asian suppliers have started to produce a new version of iPhone 4 with a lower retail price, Tencent Tech reported.

• New! Apple to launch iPad3 in early 2012

Apple is preparing for production of the next generation of its iPad tablet computer to be released in early 2012, Forbes reported on its Web site Tuesday.

• Not out yet but iPhone 5 is hot

• Fake iPhone5s hit market in China

• Campaigner: 2 cheated over iPhone sale

• Bloomberg: iPhone 5 parts cost US$270

• Apple iPhone5 may be set for Sept. release

• AT&T prepares mid-Sept. iPhone 5 launch

• A fake Apple store in China

• Apple to sell iPhone 5 in Q3

• China Mobile likely to offer iPhone 5 in September

• Report: iPhone 5 to come in August

• Apple launches iCloud, but no iPhone 5

4G Connectivity: iPhone 5 may support 4G network. However, as carriers are still in the process of rolling out their 4G network, the possibility for a real 4G iPhone is not very high.

Cloud-computing Suport: It's reported that the new iPhone 5 will use the free iCloud service released recently to enable users to sync, store and push data from Apple's online server to their iPhones.

Better Battery Life: Apple has a reputation of improving battery life with its every new product. iPhone 4's talking time is 40% more than iPhone 3GS.

GSM/CDMA Support: There are currently strong indications that iPhone 5 will not only support the CDMA network, but will also be compatible to the GSM network.

Better 3D Graphics: Compared to the Imagination PowerVR graphics chip integrated to the A4 CPU in iPhone 4, iPhone 5 will reportedly use the PowerVR SGX543MP.

CPU Upgrades: It's almost certain that the new iPhone 5 will be equipped with a 1GHz A5 dual-core processor that runs the iPad 2. A5 is twice as fast as A4 in iPhone 4.

8-megapixel camera: A better camera can be expected in iPhone 5. Media reports said that iPhone 5 will have a 8-megapixel camera to replace the current 5-megapixel camera.

Larger screen: iPhone 5 is reportedly to have a bigger, edge-to-edge screen to compete with the large screens now commonly equipped on Android smartphones.

Bigger Memory Storage: The current iPhone 4 only comes in 16GB and 32GB versions. Chances are that iPhone users can get a 64GB version with iPhone 5.

More customizable home screen: iPhone users have long be waiting for a home screen that can be more customizable. They may be satisfied with the iPhone 5.