Since iPhone 2G was launched, iPhone users faced limited memory issue. iPhone users know that they can not avail external memory option in any iPhone model. iPhone offered 16 GB as an entry level model and on later releases it offered 32 GB.
In Apple iPhone 6S Plus you can have 16/64/128 GB of the memory. As per rumors in Apple iPhone 7 the entry level Apple will offer 32 GB. Which means we could see more than 128 GB memory in later versions of iPhone 7.
As per leaked specs, Apple iPhone 7 will be waterproof, which is great achievement. It will have nano-SIM as in iPhone 6S and later versions. It will have 4.7 inches screen. iPhone 7 will be running iOS 10 as operating system and it will be using Apple A10 Chipset. Like previous version there is no SD card slot planned for iPhone 7. In trustingly there will be no 3.5mm jack. Apple iPhone will be offered in Space Gray, Silver, Gold, Rose Gold colors.
All the specs mentioned in this post are based on rumors, leaked news and several articles.