Although Apple has kept a tight lid on almost everything associated with the upcoming new version of the iPhone, a source close to Apple's hardware development team says that the third-generation iPhone will be coming on Friday, July 17.

Many are eagerly awaiting the new iPhone and the new features that it is rumored to be bringing along with it. Some of the more notable features include double the RAM and processing power, a 32GB model, 3.2MP camera with video capabilities, a compass, and an FM transmitter. Unfortunately it is also very likely that the $199 and $299 prices will remain the same.

Of course Apple has not verified any of the information yet, all of this is from various leaks that have popped up over the last few months. As always we will have to wait to hear from Apple for the official word and confirmation, however many of the changes would fit the iPhone quite well and are all very plausible. Confirmation could be right around the corner as VP Schiller will be opening the Worldwide Developers Conference in San Francisco on June 8th with a keynote address.