The iPhone update rumors keep coming in and now a Chinese site has posted the image above.  The image was not from a well known source, but the forums have been host to early releases in the past such as the first unibody MacBook pictures.  The details about the new phone are as follows:

 

32GB of storage

600MHz CPU Speed (200MHz faster than before) 
256MB RAM (double that of current iPhones)
Digital Compass

An FM Tuner
3.2 megapixel camera with auto focus

All of this information is very believable as it matches all the rumors we have heard.  There was no mention of change for the size, case or design.

 

[via MacRumors]