The iPhone 15 Pro Max is still fairly new, and while the new model will not be released until the end of this year, you may already be wondering whether to buy or hold off for next year's iPhone 16 and supposedly iPhone 16 Pro Max models.

The iPhone 16 Pro Max rumor is still early days, given that the device will not go on sale until September 2024, but already many leaked information suggests the kind of upgrade we can expect. But before we get to that, there is one important caveat. Last year, Apple was said to be launching an "Ultra" variant of the iPhone 15. That didn't happen, but Bloomberg's Mark Gurman thinks it could appear in 2024, possibly replacing the Pro Max, or even a more premium model.

Whether or not that turns out to be the case, just note that these features could be for the iPhone 16 Pro Max, the reported iPhone 16 Ultra, or both.

The Pro Max model is already Apple's largest smartphone, with a diagonal size of 6.7 inches. However, the company is planning to make the Pro Max even larger in 2024, reportedly with a 6.9-inch display.

If true, it will be interesting to see how much larger it will be when held in the hand. In the past, Apple has been successful in reducing the increase in footprint by making the bezels thinner, but with the iPhone 15 Pro Max's frame measuring only 1.55 mm, it is difficult to see how much thinner it can be. Display analyst Ross Young, who first suggested an increase in screen size, suggests that the aspect ratio may be adjusted to compensate.

There may also be a bit more screen to play with, thanks to a reduction in the cutouts used for dynamic islands; a January report suggested that the 2024 iPhone 16 Pro model would move Face ID to the bottom of the screen, leaving only one cutout for the front-facing camera It was suggested that only one cutout for the front-facing camera would remain. But it may be something to look forward to in 2025 instead.

The current Pro iPhone model introduced an entirely new button in place of the mute switch. Currently, Apple is reportedly considering introducing a second button, called the "capture button," according to leakers.

From the sound of it, this would be a handy physical shutter button for the iPhone 16 Pro Max camera. What it can do outside of the app remains to be seen, but it appears that it will be capacitive rather than a physical button.

The new iPhones warrant a new chipset (unless you favor a non-Pro model, in which case you get last year's Pro knockoff), and that means the iPhone 16 Pro Max will debut an A18 Pro CPU.

This will undoubtedly mean smoother performance and higher frame rates in the most demanding games. This is no mean feat considering that the current A17 Pro is the best performing mobile chipset available.

Unfortunately, it is not accompanied by an increase in RAM. Apparently, the Pro Max will maintain 8GB for another year.

The biggest improvement in the iPhone 16 Pro Max may be in the camera array.

For starters, the telephoto lens could be further improved with a focal length of 300 mm. The same leaker also predicts a larger 1/1.4" camera sensor, which means it could perform much better in low light conditions. Telephoto lenses will also be thinner and may offer improved magnification.

It's not all about long-distance photography. According to another rumor, the iPhone 16 Pro Max could feature a 48MP ultra-wide-angle lens. This would be a significant improvement over the current 12 MP one.

The iPhone 16 Pro Max rumors are just getting started, but there are already many potential improvements. No doubt more information will come in over the next few months, but even if these are the only confirmed upgrades, it would still be a major step forward from this year's model.

So should we hold off on buying? Not necessarily. These upgrades are not guaranteed and the iPhone 15 Pro Max remains one of the best phones you can buy today. Simply put, if you feel you can't wait until late next year to upgrade your phone, you won't be disappointed. All the same, it never hurts to wait if you are happy with your current model.