Recent reports indicate that if you want to buy an iPhone, perhaps this is the best time to do it. Come September, a new iPhone will be in the market, iPhone 7, Apple's flagship handset packed with many surprises. According to latest updates, the production for the upcoming handset is already in the process which has led to couple of photo leaks.

Reports also claim that iPhone 7 will be available in Rose Gold, Space Gray, Silver and Gold variants. Apart from that, Apple is also planning to reintroduce its Space Black color that was discontinued some time ago. Two new iPhones will hit the market in this year, iPhone7 and iPhone 7 Plus, and entry level model for both will be 32GB. 16GB iPhones will be discontinued with iPhone 7 onwards, reports say. The midrange model will be 128 GB and top end will be 256 GB.

Even though iPhone 6 and 6S are Apple's latest handsets with amazing features, but the additional space offered by iPhone 7 and iPhone 7 Plus is enough to lure many users to upgrade to the upcoming device.

Rumor has it that the the latest iPhone will be priced at least $100 less than its previous models. Needless to say, the prices will alter depending upon the storage space. iPhone 7 32GB, 128 GB and 256GB will cost $649, $749, $849 respectively. iPhone 7 Plus 32GB, 128GB and 256GB will be priced at $749, $849 and $949.