With Apple set to reveal a new iPhone at its media event this Wednesday, renowned KGI Securities analyst Ming-chi Kuo, who has made numerous accurate predictions regarding the company's products over the years, has revealed what we can expect to see in the new smartphone.

First of all, Kuo believes that the iPhone 7 will come in five colors. The rose gold, gold, and silver options remain but space gray has been removed, replaced with dark black and a glossy piano black, the latter of which may only be available on the higher capacity models.

Other options rumored to have been removed by Apple include the 16GB and 64GB capacity iPhones. Instead, there will be three configurations: a 32GB base model, a 128GB version, and a 256GB variant. As for the RAM, the iPhone 7 Plus is said to come with 3GB, while the standard model will have 2GB.

Sticking with internal upgrades, the new device will include the Apple A10 SoC manufactured by TSMC using the new InFO process. It could reportedly be clocked at up to 2.4GHz - quite the increase over the A9's 1.85GHz.

While the iPhone 7's screen sizes remain at 4.7 inches and 5.5 inches, they will now feature the wide color gamut technology used in the 9.7-inch iPad Pro, which should be particularly noticeable when viewing photos taken with the new camera.

Speaking of the camera, the iPhone 7 Plus will be getting a dual system consisting of two 12-megapixel lenses. One is a wide-angle camera which comes with optical image stabilization, while the other is a telephoto camera. Together, they offer optical zoom and 'light field camera applications.' Additionally, the camera's flash will now have four LEDs - two for cool light and two for warm.

Some other predicted features include the proximity sensor switching from LED to laser, FeliCa NFC support for models sold in Japan, a pressure-sensitive click-less home button to improve the IPX7 water resistance, and the earpiece receiver becoming a full speaker to provide stereo sound when the phone is held in landscape.

Finally, the iPhone 7 dropping the headphone jack now seems all but certain. Kuo says that Apple will instead include Lightning EarPods and a Lightning to 3.5mm jack adapter.

We'll find out the accuracy of Kuo's predictions in two days time.