Everything we know about the iPhone 7 so far (AAPL)

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Apple only launched the iPhone 6s two months ago, but there are already rumors swirling about its successor — some far more believable than others.

At this point, Apple hasn't even announced the iPhone 7, and it's difficult to be sure of anything.

But here's what people are saying, and what to expect.

It's highly likely Apple's next smartphone will be revealed at an event in September 2016, and will go on sale to the public the following month. It's a formula that Apple has been following like clockwork for years now.

With the iPhone 6, Apple introduced two different sizes of phone for the first time — the 6 and the 6 Plus, now followed by the 6s and the 6s Plus. 

This allows the Cupertino company to target people looking for a big-screened phablet device, without alienating customers who want something a little smaller. It's been a roaring success: The iPhone 6 landed Apple the most profitable quarter of any company ever, and Apple says the 6s sold even better than its predecessor during its first weekend of availability.

The iPhone works on a tick-tock release strategy. One year, the phone gets a big redesign and a new number (iPhone 4, 5, 6); the next, it gets revamped guts and a new feature or two, and an -s gets appended to its name (iPhone 4s, 5s, 6s). 

This year was the 6s, which means next year should be the iPhone 7 — with a totally new look.

Another no-brainer — every year, Apple updates its mobile operating system shortly before the release of the newest iPhone. This then becomes the first device to ship with the new iOS version installed. In 2015, it released iOS 9 — meaning iOS 10 should come out in 2016.

So what changes will the iPhone 7 redesign entail? Piper Jaffray analyst Gene Muster thinks that Apple might ditch the home button altogether, and incorporate a bigger screen. "As many have speculated, the addition of 3D Touch may provide Apple with a way to eliminate the home button on the phone and use the additional space to make the screen bigger or make the device smaller," he wrote in an analyst note. "One barrier to this could be Touch ID, which is integrated into the home button currently. Apple would need to move the Touch ID reader to potentially the side of the phone to remove the home button."

Munster pegs the chances of this happening at 50%.

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