Millions of people are waiting for the new iPhone 6 (or 5S) and many speculations have been there. Some are waiting for a bigger iPhone some are waiting for something else.
Personally I have a strong feeling that Apple will release 2 iPhones, the first will most properly be like the current iPhone 5 but with more colors to choose from (not just white and black) and this will fit seamlessly with the new colorful iOS 7.
I also guess that a mini version will be released in that same way and for the same reasons Apple released the iPad mini. I guess it will have the same resolution as the classic iPhone (320×480) and a cheaper price than iPhone.
Do you have your own guesses, add them as a comment below : )