Apple's next update to its popular line of smartphone flagship, dubbed iPhone 8, is still far from being released or even becoming official. Because of that, many Apple enthusiasts have now turned to the rumor mill to get at least an idea of what they can expect in the flagship update. And the latest one so far suggests the next iPhone might actually carry a different new name.

According to iDrop News, Apple may instead go with the name "iPhone Edition" to its next update than the aforementioned brand. People have been calling it the iPhone 8, though it'll likely carry a different name such as "iPhone Edition," though "iPhone X" has also been tossed around. The tipster, unfortunately, did not offer any valid reason as to why the Cupertino-based tech giant would abandon its popular brand name to a new one.

9 To 5 Mac has mentioned that there are past reports claiming that the next smartphone will carry the name "iPhone Pro" to go inline with the iPad.

Another possible reason why Apple is allegedly planning to change the iPhone 8 name is due to the flagship's nearing anniversary. The brand is now heading to its 10th year anniversary and what better way to celebrate the joyous moment than to release a smartphone with a fresh name.

Meanwhile, the unknown tipster has added that the Touch ID location on the iPhone 8 will most likely be moved to a different location. Instead of the front, the fingerprint sensor is now going to be located on the back. It is all probably because of the bezel-less design of the handset.

 Apple is expected to release three iPhone versions later this year, with one of those models having an organic light-emitting diode (OLED) display. OLED offers brighter displays and better power efficiency over liquid crystal displays (LCD) currently in use.

Apple's upcoming anniversary edition iPhone 8 is unlikely to cost $1,000 as has been speculated, with new models expected to see a "bulge of buying."