The next-generation iPhone -- alternatively called the 5s, 5c and 6 -- will be introduced at a special event in about a month, sources told AllThingsD.com.
The rumor mill has been churning since Apple announced the new-look iOS 7 in June, a harbinger that a new iPhone is on the horizon.
Some speculate the new phone will feature fingerprint-identification technology in the home button, allowing users to unlock their phone without entering in a code. Apple acquired Authentec, a fingerprint security company, last year, providing fuel to that rumor.
The technology needed to include the feature might necessitate changing the shape of the home button to make room for the parts, hence the possibility of a convex button.
KGI securities analyst Ming-Chi Kuo, who has an accurate track record predicting new iPhone features, said the change in the home button could mean a change in the material the iPhone is made out of. Instead of plastic, the phone could be made of a material called Sapphire.
"Sapphire prevents home button from being scratched. A convex home button could be more easily scratched, so a harder material is required. We believe Apple will switch from plastic to sapphire, whose hardness is second only to diamond. Sapphire would protect the home button from being scratched and the fingerprint sensor from being damaged," he said.
The next-generation iPhone may even come in a wider variety of colors like the Moto X.