There's a good chance that the iPhone 5 will be getting a refresh in the form of the iPhone 5S. Like the iPad last year, the iPhone may be getting not one, but two new entries this year in the form of the aforementioned 5S refresh and the iPhone 6, both of which have been spotted in the wild.
Last year, Apple released both the "New iPad with Retina Display", or an updated version of the 3rd generation iPad, alongside the iPad Mini.
Images leaked on Chinese tech websites like Gizchina show what purport to be aluminum frames for the iPhone 5S and the iPhone 6, captured on the assembly line. According to another report on Laoyaoba, "both models may be released in 2013."
Seen below, the iPhone 5S looks a lot like the iPhone 5, with an identical form. The iPhone 6 on the other hand is lighter and thinner.
The rumors could of course be entirely made up, but there's little reason to doubt that Apple is going to release a new phone this year—be it a refresh of the iPhone 5 or a brand new model. The company's made it a policy of sticking to its release schedules by releasing a new version of its Macbooks, iPhones, iPads, and iMacs every year.
Assuming the rumors are true, we can certainly expect to see an updated processor on the iPhone 5S—but what can we expect to see from the iPhone 6? One of the possible additions could be a tactile display with buttons that emerge from the glass when you need to type. Other possibilities include foldable displays, like the new phones Samsung is working on. The tactile display would greatly improve the quality of games on the iOS.
Aside from the rumors, well just have to wait and see what Apple comes up with.