Apple device lovers are anxiously awaiting the release of the iPhone 5, and high expectations for the device and its related mobile phone accessories are already circulating despite little information from the company.

Lower cost is a big hope for potential device consumers, although speculation on the price has ranged from a higher to lower expense for the new model. Apple is expected to release a lower-power, reduced-price version of the iPhone 4, however, which may open up the popular phone to more consumers.

According to multiple reports and pictures of hard protective cases already in production, the design will change slightly. The tech media speculates that the screen will cover almost all of the front of the phone, and the back and sides are expected to be rounder and thinner despite a slightly larger frame.

Many consumers are hoping for a more powerful camera, perhaps with 8 megapixels and a better flash.

Perhaps most importantly, the iPhone 5 is rumored to have faster processing speeds, which could hinder the most recent Android releases vying to be the top-selling smartphone. A number of news sources claim that the new Apple phone will have the same A5 chip as the iPad 2, which would be considerably more powerful than the A4.