The much-awaited new generation Apple premium series smartphone - iPhone 5S - which is rumoured to debut early next month, will reportedly feature a faster processor and a separate chipset for motion tracking.

Tech enthusiast cum Fox News co-host, Clayton Morris citing his sources tweeted that the upcoming Apple iPhone 5S will boast of a new chipset A7 with a very high speed CPU, about 31 percent faster than the current iPhone 5 model which houses A6 processor. He further said that the new iPhone would come with dedicated chipset for motion tracking sensor in the camera, hinting iPhone 5S may come with gesture-control based feature.

Taking recent reports into the account, Apple is rumoured to house a bulged home button to accommodate the fingerprint scanner on iPhone 5S. Apart from that, the American company is reportedly keeping the same physical form (4.0-inch screen) and design frame with metallic touch as seen on its predecessor.

The new iPhone will run on the new iOS v7.0 OS with 1GB LPDDR3 RAM and boast of an improved 13.0-megapixel main camera with dual-LED flash and wide f/2.0 aperture to enable camera to absorb more light for snapping high quality pictures under low-light environment.

Apart from traditional black and white variants, Apple is expected to unveil the third colour variant - 'Champagne Gold' iPhone 5S model.

The Apple event, which is rumoured to be taking place in San Francisco, USA on 10 September, is also expected to witness the launch of the first ever low-cost Apple smartphone variant, iPhone 5C. It will reportedly sport a polycarbonate material based plastic shell with 3.5-inch screen and run on new iOS 7 powered by old Apple A5 chipset.

The cheap Apple phone is expected to house a 5.0-megapixel camera on rear side and would go on sale with multiple colour options - Black, White, Red, Blue, Green and Yellow. Both iPhone 5S and iPhone 5C may go on sale in select markets on 20 September.

Rumoured specifications of Apple's premium iPhone 5S and Low-cost 'iPhone 5C':

Model

Apple iPhone 5S

Apple iPhone 5C

Display

4.0-inch screen with IGZO display technology

3.5-inch screen

OS

iOS 7

iOS 7

Processor

Next generation dual-core Apple A7 Chipset

A5 chipset

RAM

1GB LPDDR3 RAM

Yet to be ascertained

Storage

128 GB

Yet to be ascertained

Camera

13.0-megapixel camera with Dual-LED flash support for enhanced low-light image capture and f/2.0 aperture

5.0-megapixel camera

Add-ons

Finger-print scanning system to unlock screen, improved voice-search feature Siri, NFC

Plastic shell with multiple colour options, 3.5 mm audio port, lightning port

Colour options

Champagne Gold, Black and White

Expected to come in Black, White, Blue, Red, Yellow and Green