Though nothing is confirmed yet, it has been heavily rumored that Apple is developing three new iPhones this year including a low-cost iPhone mini.

As the rumors about the next-generation iPhones start popping out from different corners, designers are back on their drawing rooms sketching out the concepts of the next Apple flagship smartphone. This time, Peter Zigich, a Toronto-based 3D designer, has shared concept designs of iPhone 6, the iPhone mini and a phablet, an extra-large phone and tablet combination.

Zigich's designs are reportedly based on these rumors and according to him, the three key areas next iPhone has to address are: improve its already spectacular design of iPhone 5, compete with cheap smartphones, and compete with large screen smartphones (phablets).

Explaining his thoughts behind the designs on his blog post, Zigich said Apple should move the physical 'Home Button' to the sides as it takes up a lot of space at the front. It would help create a bigger screen or a smaller phone. In addition, moving home buttons on to the sides allows for another row of icons, while physical dimensions remain the same as iPhone 5.

He places two Home Buttons, one on each side, instead of one arguing that more functions are possible with combining left and right Home Buttons with single, double, triple click.

Zigich's iPhone 6 design can hold a total of 28 icons at once with the same dimensions as iPhone5. He estimates the smartphone to be priced the same as its predecessor iPhone 5 at $650 without a contract ($200 with two-year contract).

What comes next is a smaller version of iPhone which he calls 'iPhone 6 Mini'. iPhone mini is a cheaper and smaller iPhone to compete with low-cost Android phones, aimed at developing and prepaid markets. The device will have a smaller screen in the size of iPhone 4. His estimate is that the product would cost $350 to $450 without a contract ($0 to $100 with two-year contract).

The next in the design line is a concept image of iPhone XL, a large screen iPhone which he places in the category of 'phablets'. The bigger screen of the device would allow for one extra row and one extra column of icons. "Same premium materials as 'flagship' iPhone, but a larger screen," Zigich writes about the design. He says the size is perfect for one handed use unlike the oversized Samsung Galaxy Note. According to him, the product would carry a price tag of around $750 to $900 without a contract ($300 - $400 with two-year contract).

Head over to Zigich's blog to know more about his works.