Apple was apparently having a hard time deciding which technology to stuff into its next iPhone model, mostly because LPDDR4 costs 35% more than the older LPDDR3. Additionally, Apple was worried about availability of the newer RAM chips due to production issues at Micron. But those problems have been ironed out. Micron is expected to account for 20% of the RAM employed by Apple this year for the iPhone 6s with Hynix (50%) and Samsung (30%) responsible for the balance.
The Randam Access Memory is basically your phone's short term memory and access to the information in RAM is faster than getting it from your phone's native storage. The original Apple iPhone launched with 128MB of the stuff and it wasn't until the Apple iPhone 5 that Apple went to 1GB of RAM. After doubling the amount of RAM in the Apple iPad Air 2 to 2GB, if this report is legit, it seems that Apple is about to do the same with the next iPhone.
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source: TechNews (translated) via GforGames