Two news websites have revealed details ahead of the phone being revealed to the market on Tuesday.
There are expected to be two other new phones called the iPhone 8 and iPhone 8 Plus.
Tuesday’s event will mark the tenth anniversary of the smartphone, which first went on sale in June 2007.
The special edition device is rumoured to be priced as high as $1,000 and is said to feature edge-to-edge screen and wireless charging capability for the first time.
It could also feature a 3D face-scanning camera and remove the traditional home button from the front of the device for the first time.
The company is expected to announce a new Apple Watch and a 4K resolution Apple TV.