9to5Mac discovered code within the beta version of iOS 6 confirming that the device will carry an ARM S5L8950X processor, though its speed was not disclosed.
Should the rumours prove accurate, the handset will feature as much RAM as Apple's latest iPad, but only half as much as the recently-released Samsung Galaxy S3 smartphone.
Apple's next generation iPhone is believed to feature a larger display than its predecessors, following reports that the firm has begun ordering 4-inch screens from its Asian suppliers.
The company allegedly ordered the start of production on the handset at the start of this month, putting the device in line for release in September or October of this year.
Apple is expected to release details about its iOS 6 operating system at week's World Wide Developer Conference.