Although it's been just six months since the release of the iPhone 5S, rumor mills are abuzz that the Cupertino, California-based tech behemoth is all set to release a replacement, which will probably be called the iPhone 6.

People have been speculating whether the new device will be bigger or have the same size as that of iPhone 5S? Will it feature standout aspects? Or will the new device come along with an iPhone 6C or the iWatch?

We are unlikely to get answers to any of these questions till Apple CEO Tim Cook take stage some time later in 2013. However, most of us are not patient enough to wait till September or so and, so we have brought together all the gossip for you.

According to the latest gossip, the device is expected to be released during the third quarter of 2014, while the company may delay the release of the iPhone 5.5-inch phablet till 2015 owing to battery issues.

The latest speculation regarding the design of the iPhone 6 hints that the device may have rounded corners, an aluminum body and a curved glass display. Considering all these aspects, designer Martin Hajek developed a 3D depiction of the upcoming device. The mockups feature a more slender frame with rounded edges. It is being speculated that the device will be available in two options - an iPhone 6S with a power button, while the iPhone 6C will have a plastic body instead of aluminum.

Hajeck has also designed 4.7-inch and 5.7-inch screen variations of the forthcoming device featuring super slender designs and curved edges. His designs are primarily based on schematics leaked recently.

Meanwhile, analyst Peter Misek is of the view that the price tag of the forthcoming iPhone may be more than $100 above earlier variations of the Apple smartphones. He claims that all network providers realize that the forthcoming iPhone 6 will be the only "headline-worthy high-end phone launched this year," thereby costing much more.

Earlier, Apple entered into a three year deal with Taiwan Semiconductor Manufacturing Company (TSMC) and, as per the contract, the Taiwanese company will manufacture latest A-series chips for future iPhones, iPads and iPod touch devices. TSMC as well as Global UniChip, the company's integrated circuit design service partner, will be supplying the new A-series chips, which will be developed on 20-nanometer, 16-nanometer and 10-nanometer process nodes for the forthcoming iOS devices.

The report further said that the Taiwanese firm will commence manufacturing the 20-nanometer "A8" chips earliest in July. Nevertheless, it is expected that the production of the chips will be increased only after December 2013. The A8 processor will power a new iPhone, which is "slated for release during the end of 2014."