Some speculations regarding Apple's much awaited iPhone 6 had been going around the tech community. Cowen and Company Analyst Timothy Arcuri has chipped in his bit.

Arcuri claimed a great deal of the iPhone 6 design has been finalized as reported by AppleInsider. Cowen and Company analyst believes the handset will have a larger 4.8-inch screen to match up with the smartphone trend in the market.

Ming-Chi Kuo of KGI Securities earlier predicted that Apple is more likely to release a larger iPhone this year. But the device will not be larger than 5 inches due to Apple's "unwavering principle of one hand use."

Reportedly, the iPhone 6 will have a higher speed 802.11ac Wi-Fi connectivity.

Arcuri also claimed iPhone 6 would include "key software innovations" with its operating system iOS. Updates may comprise of iBeacon, Touch ID fingerprint sensor and Passbook to further services for mobile payments.

Apple is also expected to stick with the low-temperature polysilicon (LTPS) LCD, the same technology used in iPhone 5s.

Display Search declared the possibility of a 5.5-inch device. However, this will go against Apple's ergonomics principle. Such size would mean an Apple device encroaching the phablet territory.

The Cowen and Company analyst expects Apple will launch its new device in September 2014, following the tech company's typical annual release. But some sources said an earlier release in June may be possible.

Another Apple device to watch out for is a 13-inch iPad which Arcuri said will "blur the lines between tablets and PCs." The device will more likely be released in late 2014.