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All you need to know about the iPhone 7

Usually, Apple updates its smartphone lineup in early September, and the latest releases are planned to be revealed in California this Wednesday 7.

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So far, the internet is full of presumed leaks and rumours, including photos from factories in China, as well as information from people with insider knowledge of Apple's plans.

The new iPhone is going to be far faster, come in new colours, get new speakers and more, according to a report from KGI Securities.

KGI Securities' Ming-chi Kuo's report has been cited by AppleInsider, MacRumors, and 9to5Mac.

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Rumours include that there will be five colour options. The current rose gold, gold, and silver models will remain, but space gray will be replaced by a "dark black" option and a separate "piano black" model with a glossy finish.

Those storage tiers will get a boost, according to Kuo: the base model will jump to 32GB, as earlier reported by The Wall Street Journal, and will be joined by 128GB and 256GB variants.

The iPhone 7 Plus will have 3GB of RAM, apparently to aid the performance of its dual-lens camera system, while the smaller 7 model will stay at 2GB.

This dual-lens camera system will have both a wide-angle camera and a telephoto camera, both with 12-megapixel sensors. The combination is said to offer optical zoom-like functionality as well as "light field camera applications".

Reports also indicate the phone will have be water resistant on par with the Apple Watch.

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There has also been a fair amount of talk online and the new phone not having a headphone jack.

AppleInsider reports Apple is rumored to be working on its own wireless earbuds with completely separate left and right earpieces, which are expected to be dubbed "AirPods."

Rumours are also circulating that Apple could ship a Lightning headphone adapter in the box, allowing users to connect legacy headphones without the need to pay extra for a separate adapter.

AppleInsider also reports that a year and a half after the first model went on sale, Apple is expected to unveil a second-generation Apple Watch at the Sept. 7 event, where it may include a GPS radio, which will allow users to measure distance and pace without the need for a connected iPhone.

Leaks have also suggested this year's model will feature a slightly larger battery, which could be used to offset the battery power needed for GPS tracking.

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And for Beats fans, an Apple marketing partner inadvertently sent out an email revealing that new Beats products will be announced at Apple's Sept. 7 event, AppleInsider reports.

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