# 32 GB of storage – A solid increase from the current max of 16 GB.
# An upgraded 600 Mhz processor – More speed! The current iPhone 3G clocks out at 400 Mhz.
# 256 MB of RAM – The current iPhone has 128 MB of RAM. So far this is looking pretty good.
# A 3.2 Megapixel camera with autofocus
# A digital compass
# An FM radio
via Poster on Chinese forum leaks next-gen iPhone specs | NetworkWorld.com Community.