32GB iPhone On the Way Soon?

Finally – The iPhone that can store your entire music library. If rumors are true, a 32GB version of Apple’s popular smartphone will be announced at the company’s Worldwide Developer’s Conference next month.

The device is expected to come with more memory, a faster processor and an OLED screen. You should be able to get more out of each charge as well.

Apple may also announce a pared-down version of the iPhone – known in the industry as iPhone lite – for a lower price. And a media pad, being called an iPad, also is reportedly in the works.

Apple appears ready to go head-to-head with Palm, which releases its much-anticipated Pre on June 6.

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