The report reiterates previous claims that Apple’s next flagship smartphone will sport a design similar to the current iPhone 5. Production of an “iPhone 5S” during Q2 could point to a release this summer. The latest rumors, from Apple analyst extraordinaire Gene Munster said the iPhone 5S could launch in late June. Munster also speculated that Apple will ship its long-rumored lower-cost iPhone in September.
The Wall Street Journal commented on the lower-cost iPhone as well. Its report said that Apple is working with its Asian manufacturing partners on a less expensive iPhone that could be launched as soon in the second half of this year. The device will sport a four-inch device with a different, cheaper casing than the higher-end iPhone 5S.
It's been rumored that Apple has been working on different color shells -- similar to other smartphones like Nokia's Lumias -- but its plans remain unclear.
Most believe that the iPhone 5S will be minimally changed from the iPhone 5. It will probably have internal modifications, such as a faster CPU / GPU combination and perhaps more RAM, but will look nearly identical, much the same as the iPhone 4S was minimally changed from the iPhone 4.
Apple shares finished up $0.99 to $429.90 on Tuesday, but that is far down from the company's high of $705.07.