Meanwhile, the new iPhone 8 will be released with limited design options and features as well. Kuo said the iPhone 8 (also referred to as the OLED iPhone, iPhone X and iPhone Pro) will come in just three colours compared to five for the iPhone 7.
Apple iPhone 8 is a standout amongst the most expected telephones of 2017 alongside the Samsung Galaxy Note 8. Echoing a number of previous reports, Kuo adds that initial supply of Apple's highly anticipated device will be extremely constrained and that Apple may only be able to manufacture "between 2 million and 4 million" during the current quarter.
It was reported on GSM Arena before that Apple is now in the process of developing its iPhone 9 even if iPhone 8 launching still remains a rumor. However, it also claims that the company will still debut the iPhone 7s and 7s Plus in September.
Furthermore, the new iPhone 8 will also scrap out one of Apple's popular security feature, the Touch ID.
Apple is expected to unveil three new iPhones at its yearly fall event. Apple Pay, introduced in 2014, allows users with an iPhone 6 or later to complete contactless payments at supported kiosks, while a later update enabled the feature for use inside apps.
On the back, the phone has a vertical dual lens camera supposed to deliver the same portrait camera effects first launched on the iPhone 7 Plus and enhance AR experiences.
One other notable change concerns the power button, which is now longer than traditional standby buttons seen on iPhones, iPads, and iPod touch media players.
Rumours are suggesting the iPhone 8's power button could be nearly twice the size of the iPhone 7's, and that may be a direct result of its new functionality. While digging around some source code, a Twitter user found lines of text suggesting that the iPhone 8 will silence notifications when peering at the OLED display.
Late past year, Tai said: "The iPhone has been evolving and now it is switching from LTPS to OLED panel".
Apple declined to comment. Tai is an executive at Foxconn, the parent company of Sharp, and also the people that make the iPhone - so it's very likely he's privy to some serious insider knowledge.