So far, Apple has revealed an early version of iOS 7's video setting. Will new camera hardware in the rumored iPhone 5"S" allow for new features?

Apple is expected to launch at least one new iPhone in the fall and if it follows the iPhone 4-4S launch pattern, the new flagship phone will offer a serious upgrade to its camera hardware. On top of a new camera, iPhone photographers are hoping for additional photocentric software upgrades as well.

As developers dive into the code for Apple's latest incarnation of its mobile operating system expected to be released this fall, they have been finding hints of what may be in store for iOS 7's final version. 

The tech journalists at 9 to 5 Mac have found a new clue:

[W]e have discovered that Apple is designing a new iPhone camera feature called “Mogul” mode. A mogul is defined as “a powerful person in a media industry,” making the word a perfect codename (or even a marketing name) for a new iPhone camera feature. The discovery, shared with us by Hamza Sood, comes by way of hidden references inside of the latest iOS 7 betas.

According to our analysis and testing of the code, “Mogul” is a feature in development that allows the iPhone to capture video at an exceptionally fast and precise rate. Specifically, our testing indicates that the feature can allow the iPhone to record video at a rate of 120 frames-per-second (FPS). The resolution at which this 120FPS video could be recorded at, however, is currently unclear.

This discovery, if correct, means a couple things for iPhone photographers. First, the new iPhone will need to have updated camera hardware in order to achieve the frame rate indicated in the code. Second, high frame rate can mean less-blurry video recording in normal speed, not just slow-motion.

While this may be the first indication of 120FPS video recording in an Apple device, slow motion video is far from a new idea in mobile photography. The Samsung Galaxy S4, Nokia Lumia 920 and HTC One can all shoot slow motion video, though most reviewers have dismissed the feature as a novelty.

Meanwhile, the Apple experts at 9 to 5 Mac are careful not to confirm the slow-motion feature for the next iPhone. Historically, iOS features have shown up in code years before they surface in the device.

Let's hear from you: Do you think that Apple can take slow motion smartphone videography from novelty to art form?