It's Friday and time for the latest Apple iPhone 5 rumours round-up

TFI Friday and to compliment that feeling of euphoria as we reach the end of the working week there are a swathe of new Apple iPhone 5 rumours to ponder over a swift coffee or six.

Some internet knowitalls now seem to be suggesting that Apple will unveil a new version of the iPhone in the first quarter of next year. Although with an increasing amount of really excellent Android phones sweeping through the smartphone stores it's going to be up against stiff competition no matter when it arrives.

As we all know only too well, there have been troubled times surrounding the iPhone 4 and, good though it undoubtedly is, the handset has been dogged by pesky antenna problems that rather tainted its initial appearance. Apple has seen countless disgruntled customer complaints too. Oh, and it still costs too much.

Perhaps the iPhone 5, or iPhone 5G as some are already deciding to call it, will make amends? The internet is awash with all manner of salacious rumours and gossip, including a potential release date of January 2011 and possible integration of Near Field Communication, which is a technology that allows the phone to be a replacement for your credit or debit card.

All nonsense, of course. But then again, maybe not. However, Apple has a reputation for unveiling new product updates for the iPhone in the summer, during June or July, so an iPhone 5 at the beginning of the year seems unlikely. However, if possible, it would perhaps quash some of the bad vibes surrounding the iPhone 4 debacles.

What is sure to feature on any new iPhone update is better reception (it's your last chance guys), a beefier processor and lots more internal storage. Add to that a bigger screen to match many of its Android rivals and Apple might win back some of the customers it lost with the iPhone 4. What is even more definite, meantime, is that the iPhone 5 will still cost too much.