During this time every year Apple remains an integral part of rumors related to upcoming smartphones; and living up to its image, the Cupertino company is once again in talks for its next iPhone.

According to a latest analysis, Apple is going to release a more developed version of the present iPhone 5 as iPhone 5S between June and July this year.

Amit Daryanani of RBC Capital Markets in his note to investors stated that as per his information Apple is going to launch 'multiple new phones' this year.

"The low-end iPhone will have the same 4-inch form factor as the iPhone 5, but will have a plastic casing and no Retina display," Apple Insider quotes Daryanani. "With a lower price point, AAPL will be able to target a growing and important part of the smartphone market (sub-$400 price band)."

He also predicts that though the low-cost iPhone will not have margins like iPhone 5 of iPhone 5S, it will still help Apple in gaining a higher value of shares.

The low-cost version will add more than $50 of value to Apple's stock share in calendar year 2014.

This is not the first time we are getting reports about the release of Apple's these two iPhones, just a day back a DigiTimes report on the basis of the information given by its sources suggested that the next iPhone may make an entry into the world market by the third quarter of this year.

"The sources pointed out that if the components are all shipped smoothly, manufacturers should be able to deliver the new iPhones to retail channels in 1-2 weeks for them to be ready to sell in the third quarter," the report added.

The report also had a mention about the low-cost iPhone with plastic chassis, but the details about the components and the release were not given.

"Apple also plans to release an iPhone model using plastic chassis to push its global smartphone market share," the report said quoting a source.

KGI Securities Analyst, Ming-Chi Kuo in January this year predicted that Apple will launch its iPhone 5S somewhere between June and August this year.

"The iPhone 5S, which Kuo believes will launch sometime in June or July, will have largely the same aesthetic as the existing model, but will boast a built-in fingerprint sensor, improved camera and more powerful A7 SoC," Apple Insider reported.

Every time the rumors come up about the iPhone 5S they are accompanied with some rumors about iPhone's budget device also.