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The new iPhone, called the iPhone 5, is rumored to feature a bigger screen and be the last iPhone designed by Steve Jobs. The new iPhone's 2012 release date is not known.

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The iPhone 5 rumor mill heated up after Apple purchased the iPhone5.com domain name. According to the rumors, this is the last iPhone for which Steve Jobs oversaw the design.

According to the new iPhone rumors, after noting the success of Android phones with larger screens by Samsung and HTC, Steve Jobs reportedly lifted his opposition to a phone too large to wrap one's fingers around. The iPhone 5 will feature a bigger 4-inch screen, compared to the 3.5-inch screen used in other iPhones. An updated operating system, iOS6, will also be released. Other new iPhone features include a 12-megapixel camera, A6 quad core processor and liquid metal chassis.

Though Steve Jobs allegedly "worked closely" in the new iPhone, it will face stiff competition from the latest Samsung and Google Nexus smartphones. Now that Steve Jobs is no longer with us, will his successor Tim Cook be able to continue Apple's success? Or will Apple go the way of other famous franchises
that have lost charismatic founders?