According to The Wall Street Journal, Apple Inc. is cooking up the details of a new iPhone scheduled to hit the market in the second quarter of 2013.
Citing people familiar with the matter, WSJ reports that iPhone fans are in for a summer treat with another flagship device that is allegedly similar in size and shape to the iPhone 5.
Concurrently, the Cupertino based tech giant is reportedly working with its Asian partners on a cheaper iPhone that could hit the shelves in the second half of this year.
The modest four-inch device will reportedly use a different casing from the higher-end iPhone. The iPhone maker has been working on different color shells for the phone but its plans remain unclear.
Analysts have pointed that it is reasonable to expect an iPhone launch around the summer.
After skyrocketing to the top echelons with the release of its first iPhone in 2007, Apple has amassed market share virtually unchallenged in the smartphone industry. But, with the rise of Samsung and other cheaper high quality devices, the ever-increasing consumer demand for cheaper products is becoming too significant to ignore.
"There isn't really any major differentiator between the players at this phase," said Neil Mawston, an analyst at research firm Strategy Analytics.
To cope, Mawston said, Apple needs to take a page from Samsung and launch more products faster.
"The panacea is to transform the industry with a revolutionary design," Mawston said. Until then "you have to do the traditional business school implementations like manage costs and move quicker than rivals."
It is still uncertain how distinct the next iPhone is compared with the current one, which was release last September.
nother front of Apple's many battles involves investor confidence. The Cupertino company has seen investors pulling away in the recent months. Apple shares closed Tuesday at $429.79, up 0.2% but well below a high of $702.10 last September.
