There is still about a year to go before Apple releases the next version of the iPhone, the iPhone 8. However, as early as now there are already a number of rumors and reports that are circulating online regarding the possible specs and features of the company's latest flagship smartphone.

As of the moment, there is a popular notion which claims that Apple's next device may be marking the company's jump into OLED display technology. The company has so far been using older LCD displays for most of its devices, including its iPhone line of smartphones.

However, it has to be noted that the company has slowly been trying to incorporate the newer OLED displays on some of their devices, including the new Apple Watch and the 2016 MacBook Pro's adaptive Touchscreen bar.

The rumors regarding Apple shift's to the newer and better display technology has been backed up by a recently submitted 10K filing from the company to the Securities and Exchange Commission, which seems to indicate that it has a standing purchase order for $4 billion spread across a year.

According to reports which had uncovered the filing, the order is apparently an "off-balance sheet obligation: for the same amount from the third quarter, believed to be a long-term OLED obligation to Samsung for the future iPhone."

OLED displays will certainly be a step up for the iPhone itself as it does give faster response times, truer blacks, and is much better for VR applications compared to the regular LCD displays that have been used so far. The use of OLED display may also coincide with rumors that have claimed that the iPhone may essentially be a bezel-less smartphone with all of the front sensors, including the home button and the fingerprint reader, all embedded underneath the display.

There are, of course, several factors that may hinder this from happening, which includes supply availability and overall cost, so it has yet to be determined if the next iPhone would sport the new display technology.