Most of the rumors and leaked images surrounding the Apple iPhone 7 point to a similar design for the Apple iPhone 6 and Apple iPhone 6s, not just in size but probably the thickness as well.

What seems to have changed however, based on the leaked image, is the bigger main camera profile (although it's clear if the cam is being pushed back into the body of the gadget). That probably lends credence to all the rumors about larger pixels for the iPhone 7, as well as a faster aperture, which means that it would no longer be lagging behind the competition under low light conditions.

Previous rumors alleged that Apple is working on two versions of the Apple 7, with the higher model featuring a dual camera. Now, all indications point out that that would no longer be the case since, understandably, a single camera mobile would eat into the demand for the dual-cam.

The specs for the iPhone 7 would most likely be the most powerful yet. According to Tech Times, the basic model will have 2 GB of RAM while the premium model will feature 3 GB of RAM. It will also boast of the latest in next-gen processors from TSMC.

But Gordon Kelly wrote for Forbes that while the iPhone 7 will definitely be a significant upgrade over its predecessors in terms of performance, based on the initial reports regarding specs, would this be enough to reverse the downward trend of Apple in terms of sales?

"On the face of it the answer looks set to be 'No', but there remains enough time for Apple to pull out surprises which have users once more queuing around the block," he said.