iPhone 7: Almost every detail of new phone revealed by new report ahead of Apple launch

New colours, hugely improved new processor and changes to the body have all reportedly been revealed ahead of the 7 September event

The new iPhone is going to be far faster, come in new colours, get new speakers and more, according to a new report.

The new report from the usually reliable KGI Securities seems to reveal almost everything about the iPhone 7, which is set to be released at a special event this week.

Apple's new phone will come in two new colours – and will no longer come in the classic Space Grey. Instead, Apple will sell a “dark black” phone alongside a “piano black” one, according to the report from KGI Securities, meaning that there will be five colours in the line-up.

That piano black colour may even be treated as an exclusive to the more expensive, high capacity versions of the phone, according to the report. That might be relaxed later on but initially will be limited because of limited supply.

Inside, the phone will be getting a major upgrade by adding in the A10 chip that will power the phone. That will be a dramatic speed boost on existing models – and it's not clear whether Apple intends to use that for any new features.

Perhaps the biggest change to the new phone, however, will be the camera on the back. As well as using long-rumoured dual-lens camera technology, the phone will also include other features like optical zoom that will together create far better images.

It will also change the flash to allow it to light up people's faces more realistically in pictures. Alongside other technologies that should make the phone far better at taking pictures in the dark, according to the report.

Apple has been highlighting the cameras in its phones in recent years, showing off pictures during its launch events. It has also highlighted the results of them in its Shot on iPhone ads.

And perhaps the most controversial change will be the move to drop the headphone jack. The new report sheds light on how exactly that will happen, and how Apple will try to win people around: by including earphones that plug into the Lightning charging port in the box, and also including a adapted that will allow for traditional headphones to be plugged in.

It will use the extra space freed up by the headphone jack to add in improvements to the screen and to the built-in speakers, according to the report. On the bottom will be a grille that will look like a speaker but will actually improve the pressure-sensitive Force Touch display, according to the report, though it's not clear how that will actually change the experience for users.

The removal of the headphone jack has also been rumoured to be a way of letting Apple make the phones more waterproof, by getting rid of one of the main places that water get in. That will allow Apple to sell the phone with the same waterproof rating as the Apple Watch – which theoretically can stand being put into one meter of water for up to 30 minutes.