More rumors are surfacing about the highly anticipated iPhone 5. Apple has the reputation of releasing new generation of iPhones around summer season and many expect that would be the case for the release of the iPhone 5. There are a lot of things we don’t know about the next generation of iPhone. Number one of them is the name itself. Just like with the previous iPhones, we only get to know what to call our future smarphone few days before its official release. Other things that people seem to perseverate on are the rumored NFC technology being available to the next iPhone. NFC or Near Field Communication technology is currently mostly used on debit cards in a form of quick pay. NFC technology is not something new to the mobile world; in fact, it has been equipped in Nokia, Samsung, Motorola, and Google Nexus phones. There are few pros and cons that I could think of having this technology. One advantage is the fact that you can select your phone as a payment option when purchasing. One disadvantage of having this technology is being “double-robbed.” If you were to get mugged, the robber can take your iPhone and at the same time he can use it to pay for his unauthorized purchases. Other rumored news about the next iPhone which has the highest chance of becoming true is having a 1GHz dual-core processor just like the one being used in iPad 2. The A5 chip made by Samsung features a 1GHz ARM Cortex A8 dual-core processor. Another rumor suggests that the next iPhone will be much of the same design at the iPhone 4. Few photos of what is said to be the framework of the next iPhone have been floating around all over the internet. The release of the next generation iPhone is expected to be this summer and thought to hurt Verizon’s present effort to increase sales on the iPhone 4. In my opinion, the next generation of iPhone will be called iPhone 4Gs and will run on both AT&T and Verizon’s 4G network. Of course, there are chances that I could be wrong since it’s been reported that cellphone batteries drain much quicker if used on 4G networking.