The next generation of iPhone is speculated to arrive in just a few more months from now. Since the time Apple unveiled iPhone 3GS, there have been quite a few compelling developments like the foray of Google into the smartphone segment, the launch of the iPad and more heavy competition in general. Nevertheless Apple has always known to surprise its users with exciting features during its new product launches.

So what can we expect in Apple's next generation - iPhone 4G? Folks at CNET have a very good compilation of the most wanted features. 

We have removed some features from their list, which we felt were not applicable to iPhone 4G and added few features of our own. 

So here is the list of features that we would like to see in iPhone 4G from the least wanted to the most wanted features:

Note: We hope to come out with a similar wishlist for iPhone OS 4.0.

• OLED Screen: Rumors of iPhone sporting an OLED screen did the rounds during the launch of iPhone 3GS as well. It is quite possible that Apple decides to offer their users this feature this time around. 
• Biometric Security: If Apple's patent applications are anything to go by, all you may need to unlock your iPhone is a swipe of the finger. 
• LED Indicator: It would be nice if iPhone 4G gets a light indicator like the BlackBerry as it can be quite useful to indicate if you have a new message, to indicate low battery etc.
• Screen Rotation Lock: Apple replaced the mute switch just above the volume control button on the side of the device with a "screen rotation lock" in the iPad. It is high time, iPhone also gets a screen rotation lock button.
• Improved Speaker Sound Quality: The sound quality on iPhone is pretty decent. However, there is always a scope for improving the sound capabilities from iPhone's built-in speakers.
• Better Camera With LED Flash: iPhone 4G should come with 5-megapixel camera and also LED flash as the iPhone camera is currently useless in the night.
• More Storage: The next generation of iPhone is likely to come with more memory and a 64GB iPhone appears to be very much on the cards. Also, with increasing number of applications to choose from, this is definitely a feature a lot of users will need. 
• Expandable Memory: This could be a great plus, though chances of an expandable memory being incorporated are pretty slim. 
• RFID: Apple's recent patent applications have hinted at possibilities of NFC technology being enabled on future iPhones. The technology can allow the iPhone to act as a payment gateway besides replacing traditional keys with digital locks operated by the iPhone. 
• HD Output: Current implementation do not allow users to output 720p or 1080i HD videos from the iPhone. This could be hence be a revolutionary feature on iPhone 4G. 
• External Keyboard: With iPhone OS 3.2 for iPad supporting an external keyboard, we wonder if a similar option for iPhone would be made available. As CNET notes, support for a bluetooth keyboard could be quite handy. 
• Open Bluetooth: Currently, bluetooth on iPhone is restricted to stream audio. This needs to be opened up to allow users to connect to other devices as well.
• 802.11n: Considering that the iPod Touch already has support to 802.11n, it is quite likely that this standard is made available on iPhone 4G.
• Removable Battery: This is another feature that has been in demand for a long time. However, considering that even the iPad does not have a removable battery, chances of iPhone 4G having one are pretty slim.
• 4G Network compatibility: Sprint and Verizon are two carriers testing 4G connections. If Apple chooses to open up its network, then an iPhone 4G that runs on 4G network is quite likely. 
• Front Facing Camera: A front facing camera can pave way for video chatting functionalities. While this is a highly requested feature, it needs to be seen if Apple would heed to these demands. 
• Sleeker iPhone: Will we see a thinner and sleeker model of the iPhone in the next generation? CNET predicts a 85% possibility of that happening.
• 3D Graphics: Odds of iPhone 4G getting improved 3D graphics are high as Imagination Technologies in which Apple holds 9.5% stake, has recently unveiled their new PowerVR SGX545 3D graphics chip.
• Faster Processor: Apple has introduced its native A4 processor chip on the iPad. Could the next generation iPhone get the faster iPad chip? The possibilities are high. 
• Improved Battery Life: With better graphics and more resource-intensive applications being run on the iPhone today, an improved battery life is a very critical parameter. This is also an area that Apple has consistently been working on and there is a great likelihood for us to see an improved battery life inn iPhone 4G.
• Multitasking: Every other smartphone rival has it and iPhone loyalists too have been demanding this feature for a long time. Is multitasking on iPhone 4G a possibility? CNET believes there is a 25% chance. 

Let us know in the comments what's on your wishlist for Apple's next generation iPhone. 

[via CNET, image courtesy – designedbyitem.com]