For several months, Apple is rumored that it is planning to launch its iPhone 7 this coming September. But customers are wary since there are also rumors that a significant feature of the smartphone will be taken out.

Tim Cook said there has been a significant "huge over-reaction" to the drop in Apple's sales and that the exciting new changes he planned for the iPhone will make people think that they can never live without it.

But during the last couple of weeks, those reports are turning sour when analysts warned that the coming handset will not be too much different from the present iPhone 6S.

Rumors about its hardware say that the tech giant will add a dual-lens camera and remove the headphone jack, which was not well received by prospective buyers.

However, when asked about these speculations, Cook assured customers that they won't be disappointed with the upcoming handset.

"We have great innovation in the pipeline, like new iPhones that will incent you and other people that have iPhones today to upgrade to new iPhones," said Cook.

"We are going to give you things that you can't live without, that you just don't even know you need today. You will look back and wonder, 'How did I live without this?'" he explained.

The size of the iPhone 7 Pro will be the same as that of the iPhone 6 Plus, according to an alleged leaked schematic form Asia. However, the forthcoming gadget will have some major changes.

Among other changes, there will be a Smart Connector port on the rear shell where the headphone jack at the bottom was in the present iteration.

The new dual-lens camera may be available only on the 5.5 inch iPhone 7 Plus/Pro because of supply constraints. The added lens will provide improved low-light performance and enable Apple to perform a number of crazy camera tricks.