Recent reports claim that the iPhone 6 release date could fall in May 2014, several months earlier than what is expected. But considering Apple's competition have been flooding the market with devices with different dimensions, specifications and price ranges, the Cupertino company may have thought that releasing more iPhones would also result in higher income potential.

But would consumers who have the iPhone 5, or even the new iPhones 5s and 5c be willing to replace their devices with the new smartphone from Apple? 

According to a report from Digital Journal, the iPhone 6 would boast a whopping 6 inches of screen estate, which is perfect for gaming and entertainment enthusiasts. However, other media reports have been saying that 6 inches would be too much for an iPhone, and somewhere within the 5-inch range is more probable. 

The report also mentions that the iPhone 6 would get a 20 nanometer processor, which would be developed by Taiwan Semiconductor Manufacturing Company. Given the sheer thinness of the processor, we could see a much thinner iPhone to be launched next year. 

If these rumors are proven to be true, Apple's upcoming iPhone could be the company's game-changer for the market in 2014.