Apple is making the new iPhone for 2016. If they’re going to release it in the same time of the year as previous iPhones, then we can say that the iPhone 7 is going to come in the coming 4-5 months.
Although reports suggested that the iPhone is going to feature dual-cameras, the first live image of the phone shows a single camera 4.7″ smartphone. Judging from the size, if this photo is true, then this is probably a stock iPhone 7. Apple may differentiate the stock iPhone 7 with the iPhone 7 Plus by using dual-cameras in the bigger variant, and possibly some internal hardware changes too.
This is a leaked image, so we suggest that you take it with a grain of salt. We will see more details about the iPhone 7 as time goes by, so just sit back, relax and wait.