The iPhone 5 is expected later this year, but that doesn’t mean Apple isn’t thinking head to its next handset expected to arrive in 2012. In fact, the iPhone 6 might be the one we should wait for, according to Josh Ong of Apple Insider.

Earlier this week, The Wall Street Journal confirmed Apple is set to release a “smaller and lighter” iPhone 5 this year that will include an 8-megapixel camera.

However, many are speculating this handset will prove to be little more than an evolutionary iDevice, much like the iPhone 3GS was when it replaced the iPhone 3G in 2009.

According to Apple Insider:

“Investors are said to be expecting a “bigger boost” to the company’s iPhone business next year. “

Possible iPhone 6 goodies include a “new way of charging the phone,” plus allowing iOS devices to connect over the Thunderbolt port, rather than USB.

The first point is most significant, since Apple appears ready to eliminate cable charging. In its place, a dock or charging mat would be provided.

In our opinion, neither of these possible features would be enough for iPhone 4 users to forgo the iPhone 5 and wait for the iPhone 6. However, we think these are probably just the tip of the iceberg. As such, don’t be surprised if the iPhone 6 is a revolutionary iDevice much like the iPhone 4.

Should you wait until next year to upgrade your iPhone? Naturally that depends on your situation and how often your carrier allows you to upgrade without a penalty.

For those that can upgrade yearly, go ahead and buy the iPhone 5, regardless of what model you currently own.

The same goes for iPhone 3GS owners, who will see a significant difference between their current handset and the iPhone 5.

For iPhone 4 users, however, who need to wait two years before upgrading, waiting until next year for the iPhone 6 is probably a better choice. But again, it’s up to you.

As a reminder, we have a great iPhone 5 rumors roundup that we’re keeping up to date for those interested in more details. Make sure to check it out.

What are your thoughts? Leave your comments below.

[Photo: Columnese]