The Wall Street Journal has reported that the upcoming iPhone 7 will not have a 16GB starter model, as Apple plans to increase the memory of its entry-level smartphone.

It means the cheapest model of Apple's latest flagship phone will now boast a 32GB hard drive, offering more space for apps, photos and video.

Whether that will affect prices remains to be seen.

The iPhone is set to be released in September and while details have not been officially revealed as yet, reports suggest that the new phone will be thinner, water resistant and boast major camera improvements.

Not only that, the company is taking the controversial decision to do away with the standard 3.5mm headphone jack, with wireless headphones and Lightning cable ports being two of the most likely alternatives.

An online petition protesting the move and appealing for Apple to reconsider received more than 300,000 signatures last month.