Would you buy an $800 iPhone 5? Some consumers are hesitant if they will upgrade to the upcoming Apple smartphone to be sold at that price range.

iPhone 4S users may opt to upgrade to Samsung's 2012 flagship phone, Samsung Galaxy S3, due to the$800 price rumor of the much awaited iPhone 5. The spike in price may be due to the new features that will be integrated in the smartphone.

Users of iPhone may not be willing to shell out more than $500 and may settle on the cheaper Samsung Galaxy S3. Even if it is an unverified rumor, the hefty price tag of the device irked many fans. However, there is no confirmation to this rumor.

If the $800 price rumor of iPhone 5 proved to be true, it will be an advantage to Samsung. Last Monday, Samsung posted on their Facebook page that users who upgrade to a Samsung smartphone will get a quote for their old smartphone.

Once they buy a new Galaxy S3, Galaxy Note or any other Samsung smartphones, users will mail in their old smartphone and wait for the rebate in the mail. This not very bad since iPhone 4S 64GB in perfect condition will get users the full $300 rebate, according to the Samsung upgrade page. After a large price drop, an iPhone 4S 32GB is going for $230 and the 16GB for $215.

In a statement earlier, Apple's chief executive Tim Cook said that the numerous rumors surrounding the iOS devices hurt the company's sales. This rumor will probably put a stake on Apple's income.

Based on the beta version of Apple's mobile operating system iOS 6, iPhone 5 will be dropping a lot of things not only in hardware designs but some of the much-loved Google products as well.

Google Maps and YouTube may not make a comeback in the new iPhone 5. It is speculated that these products will be replaces by Apple's variants, Apple Maps and iOSYouTube.

Moreover, the Cupertino-based company may be ditching its 30-pin dock connector and microSIM support and will be replaced with 9-pin dock connector and nanoSIM support, respectively.

Apple fell into second place in the smartphone market behind its main competitor Samsung. With minimal changes made on the outside, we can only hope that the Apple packed more inside the new iPhone 5. Some of the rumored features of the upcoming iPhone 5 are 4G/LTE capability, A6 chip and equipped by the new iOS 6.

It was first reported that the new iPhone will be released on August 7. New reports claimed that Apple will launch the device on September 12 and will be available on September 21.