One of the biggest rumors about next year's iPhone may have just been confirmed

The next iPhone may be almost a year away, but one of the biggest rumors about the upcoming smartphone is now looking more plausible than ever.

An executive at Japanese electronics company Sharp, which is one of Apple's suppliers, recently confirmed the iPhone maker would be switching to OLED displays, according to a report in Nikkei.

The publication reports that Sharp president Tai Jeng-wu, who is also an executive at Foxconn, which owns Sharp, said Apple would be switching to an OLED (organic light-emitting diode) display.

"The iPhone has been evolving and now it is switching from LTPS (low-temperature poly-silicon) to OLED panels," Jeng-wu said, according to Nikkei. "We don't know whether Apple's OLED iPhones will be a hit, but if Apple doesn't walk down this path and transform itself, there will be no innovation."

Jeng-wu's comments are in line with previous rumors we've heard about the next generation iPhone. Earlier reports indicate Apple will launch an all-glass iPhone with a curved OLED display. Unlike the LCD displays Apple currently uses, OLED allows for more flexibility, brighter colors and more efficient battery consumption.

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What the new iPhone model will be called, however, is unclear. While its current habits would suggest "iPhone 7S," many onlookers believe Apple will opt for a different name next year. Apple is apparently timing the massive refresh to the handset's 10th anniversary, which could be a big enough overhaul for the company to drop its current naming convention entirely (Apple usually doesn't launch significant new hardware in "S" years.) Other reports suggest Apple will launch three new iPhone models in 2017 so it's possible we could get an iPhone 7S, 7S Plus and a third "anniversary" model with a different moniker entirely.