A better camera, more capacity and an OLED screen may be in store, according to a report by Apple iPhone Apps. The site quotes “a source who is closely connected to Apple’s hardware development team” in listing the specs. Notably, capacity may double to 32 GB and 16 GB models, the pixel count on the camera may jump from 2 million to 3.2 million and battery life could grow by 50 percent. The new iPhone may also include video recording and editing, a built-in FM transmitter, a built-in compass and turn-by-turn directions. For stylistas, the design will apparently be sleeker, losing the metal band around the sides and gaining glowing Apple logo on the back. The release date is reportedly July 17. If any of these specs seem unlikely, I feel like the whole report could just be wishful thinking, but there’s also some probable specs in here too. We’ll find out soon enough. [Apple iPhone Apps via Wired]