Apple's new iPhone 8 is without an iota of doubt one of the most awaited smartphones this year. With that being said, the rumor mill has been churning all sorts of speculations around the upcoming phone. As if that weren't enough, the allegedly larger variants have been subject to a slew of leaks that seem to be springing in from all corners.

New iPhone design and why is it essential?

Apple finally answered the prayers of iPhone fanatics who have been clamoring for larger display by launching the iPhone 6 and 6 Plus about three years ago. The handsets above featured a sleek new form factor, much to the delight of smartphone enthusiasts.

Apple has since not deviated from its 2014 design. Although the recently launched iPhone 7 and 7 Plus boast an array of jaw-dropping features, iPhone buffs are now apparently discontented with Apple's aged design. As a result, sales have reached a new low.

Apple is well behind schedule as far as a brand new iPhone design is concerned. But fret not, various reports suggests this year Apple is prepping to give zealous fans what they have restlessly been waiting for in the form of a radically overhauled flagship smartphone, which might be allegedly dubbed as the iPhone 8, iPhone X, iPhone Edition, iPhone 7S, 7S Plus or simply iPhone.

iPhone 8 design leaked

A statuette of the long-rumored iPhone 8 found its way on the internet recently giving fans a brief glimpse of what looks like the final design of the coveted handset.

Regarding design, the new smartphone will oust the standard home button, while the Fingerprint Scanner will be embedded underneath the screen.

The recently spotted model of the new handset is reportedly put together using components that the real device will comprise. The dummy shows a vertically-arranged dual camera setup on the rear in the upper left corner.

The left side of the device houses the volume rocker, while the right side sports the power button, as is standard for the Cupertino-based tech behemoth.

The front of the device is concealed with a glass with 2.5D curved edges, and the panel below it will be OLED rather than LCD. While the leaked image does not give this shred of information its seal of approval, there's word floating around that the iPhone maker has reached an agreement that centers on the shipment of approximately 200 million OLED panels.

No prizes for guessing, there's no 3.5mm connector. The speakers are coupled with a Lightning port. Moreover, the leaked photo hints at a metallic rim that encompasses the entire device, just like in the iPhone 4 and the iPhone 4s.

When is the new device coming?

If Apple sticks to its release pattern, the highly anticipated successor to the current generations iPhones could be unveiled in September, but tech pundits claim that will not be the case this time around.

Apparently, it will not see the light of day until late fall. Multiple sources attributed this delayed launch to the complications involved in placing the fingerprint scanner underneath the device's front glass.