HOUSTON - If history repeats itself, Apple is likely working right now to release a new iPhone in the coming months.

This not only means a faster phone for those who want it, it also means big savings on the current iPhone 5.

As the competition between Apple and Anroid heats up, an update is sorely needed. Just recently the consumer watchdog group Which? tested seven phones, and the current iPhone 5 came in last as far as app performance and speed.

It s likely the upcoming iPhone 5S (or perhaps 6) will come up a faster processor and better graphics, but that s not the only hardware getting an update. CNET reports the biggest upgrade will be a better camera. It will have more megapixels and a bigger LED flash for better low-light shots.

No matter what hardware changes are made to the new iPhone, we know one thing that s coming for sure: iOS 7. This is a software update for the phone (as well as the 4, 4S, and 5 plus the iPad) that will change the overall look, but not the functionality, of Apple s mobile devices. Apple hopes iOS 7 will give its products a fresher, cleaner look no more icons with a glassy bubble effect.

So when will the new iPhone arrive? Apple will probably give a formal announcement about it sometime in August with the release itself in September that is, if Apple does what it typically does with its iPhone launches. There are some rumors that suggest the new phone will be a significant overhaul, and it will come out later this year as the iPhone 6. We ll just have to wait and see.

As you wait, keep an eye on deals for the iPhone 5. Walmart over the weekend dropped its price to $130 with a two-year-contract. The older 4S is now just $40. If you have an iPhone 4 or 4S to trade in, Best Buy says they ll give you an iPhone 5 for free with a two-year contract. AT&Tis also offering a trade-in deal for the 5.

Questions? Comments? Feel free to reach out to Doug on Facebook ( Twitter (@DougDelonyKHOU)

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