Swirling rumours claim that Apple is preparing to launch the iPhone 5 this summer and will also make a white version of the handset.

Reports about the potential iPhone 5 are still being classified as ‘rumors’ because there is no official confirmation. But, Apple is known for refreshing its products yearly and the company always sticks to the same calendar for introducing its new products.

According to reports, the iPhone 5 will be similar to its predecessor in shape, but will have larger display and metal back. It may be noted here that the iPhone 4 comes with a glass-back. Some reports suggest that Apple will equip its fifth-generation iPhone with aluminum back.

In addition, the iPhone 5 is expected to come with a faster CPU and a redesigned antenna. The iPhone 4’s antenna caused much trouble for the company after its launch in last summer.

Forbes magazine on Friday claimed that Apple would indeed include the innovative wireless technology, called Near Field Communication (NFC), in its potential iPhone 5, to allow people to use the smartphone for paying for goods at retail stores.