New iPhone 5S pictures have leaked showing the device with different colors including red and cyan.
Judging from the photos, it can be seen that the rumors of the company using a plastic shell for the device could be true. This shell allows for Apple to release the device in multiple colors since the cost of production will be significantly lower.
The plastic-shelled iPhone is also rumored to be cheaper and will cater to markets where demand for low-cost smartphones is high.
The pictures also display a larger version of the iPhone which could be the iPhone 6. It is significantly bigger than the iPhone 5 and sports a bezel-less screen with sloping edges. Its front also appears to be made entirely out of glass.
The iPhone 5S release is expected to happen in June and the cheaper iPhone model could arrive in September, according to a new report by Piper Jaffray analyst Gene Munster.
He believes Apple will launch the iPhone 5S with some incremental upgrades including a faster processor, a better camera, and an NFC chip which will usher in a new digital wallet software developed by the company.
The device might also come with a biometric security feature, but Munster stated that this would more likely be included in the iPhone 6.
Another lower-cost iPhone will arrive in September, according to Munster.
"We continue to believe Apple will have a cheaper phone product to address the emerging markets. In recent public comments, Tim Cook noted that the original iPod cost $399 and eventually the company released a $49 iPod Shuffle which addressed a broader market," he said. "We believe Apple will likely introduce a cheaper device in the September quarter."