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Rumor: New iPhone to Launch July 17

Wired today reports (citing sources who spoke to Apple iPhone Apps) that the new device will launch July 17. The same source provided a list of specs that are in line with previous rumors of more RAM, a faster processor, MMS, FM transmitter, a compass and video recording and editing capabilities. However, the source threw in a couple of extra features that will likely please iPhone fans. For example, Apple plans to keep the $199 and $299 price points and the battery in the new version will apparently last 1.5 times longer.

No word as to whether July 17 will be a U.S.-only launch date or if it will be a simultaneous launch across several countries. We also don't know which of Apple's new iPhones the specs below depict. Rumor has it the company is developing as many as three, including one high end and one low end.

Check out the full list of specs from the Apple iPhone Apps blog:

* 32GB and 16GB storage (up from the current 16GB and 8GB models)
    * $199 and $299 price points to be maintained
    * 3.2-megapixel camera (up from the current 2-megapixel camera)
    * Video-recording and editing capabilities
    * Ability to send a picture & video via MMS
    * Discontinuation of the metal band surrounding the edge of the device
    * OLED screen
    * 1.5 times the battery life of the current models
    * Double the RAM and processing power
    * Built-in FM transmitter
    * Apple logo on back will glow
    * Rubber-tread backing
    * Sleeker design
    * Built-in compass
    * The camera, GPS, compass and Google map combined will identify photo and inform about photo locations
    * Turn-by-turn directions

So what’s the verdict? Is it worth shunning the recently announced Palm Pre (set to launch on June 6 for $199 after rebates) and waiting a few extra weeks for? We say yes if the price is to stay the same, otherwise, no. We’d also like to see AT&T’s prices drop just a smidge but that doesn’t seem likely. Let us know what you think!