It is expected that Apple will be launching its much awaited iPhone 5 this fall with major overhaul in terms of design.

The smartphone is expected to be compatible with 4G LTE networks.

The iPhone currently has a 3.5-inch display when most of its key Android rivals have 4-inch plus displays. So it is highly likely that Apple will replace its 3.5-inch display with a 4-inch or larger screen on iPhone 5.

Yet another question being asked is whether Apple will launch a 3D version of its iPhone. This is also possible since its main competitor, Samsung, is expected to launch the 3D version of Galaxy S3 this year.

Also NVIDIA's Tegra 3 quad core processor, which is a high performance mobile processor, is becoming critical for devices with companies like HTC, Samsung and Lenovo reportedly working to bring out quad core CPU-powered tablets and smartphones. So there are good chances that Apple may power up its iPhone 5 with quad core processor.

In addition, Apple may be using a new display technology for iPhone 5 which will perform better than current retina display technology. Above all these, the new iPhone could be expected to have a new design with a mix of aluminum on the rear panel and a rubber or plastic material along the sides.

Near Field Communication (NFC) technology for mobile payments on the move could also arrive on iPhone 5 which would finally bring this contactless payment method to the masses.

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