#150 iPhone 5S to be powered by A7 chip

Tech giant Apple's highly anticipated iPhone 5S is speculated to have a higher processing chip which would speed up the phone's functioning by 31%.

Sources said that the new iPhone will have an A7 chip which will be faster than the current A6 model. According to the Daily Express, Apple is also testing 64-bit processors which would enable the phone to process better graphics at a smoother level.

Analysts believe that the same chip or a more advanced one is likely to feature in Apple's next generation of iPad tablet computers. Technology reporter Morris has previously said that Apple was also considering using a dedicated chip for motion tracking.

The latest version of the iPhone as well as a rumoured cheaper plastic version is expected to be unveiled at the company's September 10 event.