By Max Clarke

Apple are purportedly releasing a faster iPhone featuring the powerful A5 processor featured in the iPad 2.

Unnamed sources told Bloomberg that the phone, which is rumoured to released this September, will also boast an 8 megapixel camera, as well as their upgraded iOS 5 operating system.

Apple are famed for the secrecy surrounding new products, and as a result the rumours have not been verified by the Californian tech giant.

The source is unclear whether the phone, which will look like an iPhone 4 will be branded as the iPhone 5, or if it is simply an upgrade to the former.

The move will likely help Apple (NYSE: AAPL) claw back some of the market share lost to the Google’s increasingly popular Android devices, where powerful smartphones like Motorola’s dual-core Atrix are becoming increasingly popular.

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