Good news to Apple fans as latest reports claimed that iPhone 6 release date will come earlier than usual.

Reports said that iPhone 6 with 4.7 inch screen display will be launched in August. Reuters cited Taiwanese media that consumers will probably see the next iPhone a tad earlier.

However, those who were waiting for the rumored iPhone 6 with 5.5 inches panel may be disappointed as the supposed release date for the phablet will be a month after the 4.7 incher announcement. To add to the disappointment of the fans, the alleged Apple's phablet may face limited supplies as reports that 90 percent of the total iPhone models will be the 4.7 inch variant.

The reason behind the low percentage of 5.5 inch iPhone 6 units is the high cost and limited supply of sapphire to be used in the smartphone's screen. KGI Securities analyst Ming Chi Kuo stated last month in his note that lesser supply of sapphire has prompted Apple to pack the sapphire screen only to its high end devices.

Moreover, Chinese website Weibo stated that the sapphire screen is difficult to produce and is more expensive to manufacture. Other reports said that the 5.5 inch phablet requires a more complicated manufacturing process causing the delay.

Meanwhile, industry watchers have said that a larger screen for Apple will help the company to regain its standing in the smartphone market amid rivals offering smartphones with bigger screen display.

Rumor has it that iPhone 6 will also pack the next iOS 8, which will be announced next month jampacked with new features and capabilities. Moreover, the handset may also pack the next generation 64-bit A8 processor, up to 128GB internal storage and TouchID fingerprint sensor.

New reports claimed that Apple hired Nokia's former Lumia camera "expert" Ari Partinen. He worked closely with other engineers to bring forth the Nokia Pureview 808 smartphone with a 41-megapixel camera, which is something to be commended. This could mean that iPhone 6 will pack a killer camera.

Lastly, Apple was rumored to take over Beats Electronics $3.2 billion. This prompted rumors that Beats will be a significant part of Apple's next iPhone. If rumors proved to be true, Apple may have the same music features as HTC handsets.