The people at Apple iPhone apps claim to have been contacted by a source closely connected to Apple’s hardware team, who possesses knowledge of the next-generation iPhone's specifications and release date. The source has told the iPhone fan blog that iPhone 3.0 is launching on July 17.

“Recently we were approached by a source who is closely connected to Apple’s hardware development team,” states Rob over at Apple iPhone apps. “The source was willing to provide detailed information on the specs and release date of the next generation iPhone. We have checked the source’s credentials to the best of our ability and at this point deem the source as reputable,” the report reads on. The bloger adds that he and his fellow colleagues cannot guarantee the accuracy of the source’s claims, following with the “specifics.”

According to this “reputable” source, this is what Apple's next-gen iPhone is packing:

● 32GB and 16GB storage (up from the current 16GB and 8GB models);
● $199 and $299 price points to be maintained;
● 3.2-megapixel camera (up from the current 2-megapixel camera);
● Video-recording and editing capabilities;
● Ability to send a picture & video via MMS;
● Discontinuation of the metal band surrounding the edge of the device;
● OLED screen;
● 1.5 times the battery life of the current models;
● Double the RAM and processing power;
● Built-in FM transmitter;
● Apple logo on back will glow;
● Rubber-tread backing;
● Sleeker design;
● Built-in compass;
● The camera, GPS, compass and Google map combined will identify photo and inform about photo locations;
● Turn-by-turn directions.

The author then goes to examine each and every specification, while the most notable new features would be the built-in compass (previously rumored), the video recorder and editor (currently only available via jailbreak), the built-in FM transmitter and the OLED screen. All seem fairly possible too, we might add.

So, what's your take on this? Would you say these specs add up to make the new iPhone?