In addition to WiFi 802.11n support and HSDPA 7.2Mbps connectivity, it looks like we can also add a magnetometer and built-in compass to the list of features on the new iPhone.

iphonemagnetometer

Based on these new screen caps, a built-in compass is apparently available on the new iPhone which suggests that a magnetometer is also present. This isn't a new thing for mobile phones especially those with navigation features, and the addition of this new feature to Apple's mobile phone will certainly complement its already existing GPS feature quite nicely.

We're, of course, holding out on any premature celebration at the moment, but if this is indeed true, then the new iPhone will truly become of the most well-rounded mobile phones in the market today.

[source]