iPhone 5S which is rumored to be a "budget iPhone" with plastic casing in an effort by Apple to break into emerging markets.
It is also expected to have a fingerprint scanner, a rumour which has been circulating online since a developer found plans for biometric scanning in a folder in the iOS7 beta, the operating system the new handset will carry.
It is also expected to have a significantly improved display that carry a 12 megapixel camera and dual LED flash.
"Some customers value large screen size, others value other factors such as resolution, colour quality, white balance, brightness, reflectivity, screen longevity, power consumption, portability, compatibility with apps and many things,” Apple CEO Tim Cook said. “Our competitors had made some significant trade-offs in many of these areas in order to ship a larger display. We would not ship a larger display iPhone while these trade-offs exist."
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