The latest rumor indicates Apple (NASDAQ:AAPL) will release a version of 5.5-inch iPhone 6 with 128GB of storage.

Apple iphone 6

A new report claims Apple phablet will have bigger storage option

This report, which comes from Chinese tech blog Feng.com, actually cites sources familiar with Apple’s supply chain. Sources also claim the smaller 4.7 inch handset will feature limited storage capping the usual 64GB of storage. One analyst believes that storage options may not be the only thing Apple uses to differentiate its rumored phablet from other models. KGI’s Ming-Chi Kuo thinks Apple will give the phablet special features such as a rear-facing camera module with OIS (optical image stabilisation).

Apple usually release three different storage options for the iPhone, but current rumors speculate Apple may break the trend with two storage options and nix the 16GB version.

Apple could offer more iCloud storage options

There is also speculation Apple will offer more iCloud pricing plans. They would add 10GB for $20, and 20GB for $40 a year. Fans can also expect a nice redesign complete with a thinner profile, advanced A8 processor, and relocated sleep/wake button. The next generation smartphones will work with iOS 8. The new Apple operating system features a smarter keyboard that suggests contextually proper words as you type. This unique feature also recognizes who the user is typing to and what the user is typing through Messages or Mail.

Other new features include Family Sharing which allows groups of six people to share each others iTunes, App Store purchases, and iBooks. It also makes sharing locations, family calendar, and photos easier. One of the more exciting new features for iOS 8 is Health, which is basically a central dashboard that stores the user’s fitness and health applications.

Apple fans have a lot to look forward to this year with the possibility of two iPhones including a phablet.