Since the release of the first Hero series from GoPro, the small gadgets have become a popular name for adventurers, video creators and everyone who requires a tough, reliable camera that's able to capture moments in high-definition (HD) quality.

GoPro Hero 4 was unveiled in September last year and since the same month is fast approaching, the rumor mills are churning once again — this time pointing towards an announcement of a Hero 5.

According to speculations, Hero 5 would possibly arrive in October, but GoPro still has to comment on it.

Meanwhile, a report from Master Herald contradicted the October release speculation stating that it might not happen since the company is looking at further upgrades to make sure Hero 5 surpasses its predecessor.

The same news outlet also reported that competitive pricing is another reason why a later release is expected.

A lot of action cameras are now available at cheaper prices but offer more or less the same features as GoPro cameras.

Prices for the Hero 5 are rumored to be somewhere between $400 and $500, but in order for that price to be justified, the company should make sure that a new GoPro Hero model will have newer and more awesome features.

As for the shooting ability rumors, they started early on this year and stated that a Hero 5 is expected to bear video capture features that are far more superior to the already amazing Hero 4.

Now that it's the middle of the year, it appears that the speculations have gotten stronger.

One such speculation is that the Hero 5 will have an A10 chip that allows capture of 4k video at a rate of 60 frames per second (fps), as reported in Gospel Herald. In other sources, Hero 5's shooting ability is reportedly at 8K resolution.

If the rumors on this video capturing ability are indeed true, it will be a notable feature of the device since no other action cameras can record at that frame-rate and resolution.

It was also speculated that Hero 5 will carry a more durable 2800mAh battery that extends recording performance to up to two hours after one charge, as reported in 4K.com.

Action camera fanatics might just have to wait for a formal announcement from GoPro. It's mid-year and September is approaching; who knows what the company has in store for everyone?