iPhone 5S

New Apple iPhone 5S in August

Accurately predicting the release date of the next Apple product has become something of a sport, with few sources establishing a decent track record. One of those channels, however, has just gone on record with a new report that says the next iPhone will arrive this summer.

Citing "sources familiar with the plans," Apple-focused site iMore reported that the new iPhone, loosely referred to by many as the iPhone 5S, will arrive in August. The source says that Apple's updated smartphone will keep the same overall form factor and size of the iPhone 5, but will come with an improved camera and an advanced processor.

In addition to a new iPhone, the source also claims that Apple may release its updated line of iPads , which would likely include the iPad 5 and second-generation iPad mini, sometime in April. But despite the belief from many that the next iPad mini will almost certainly feature a Retina display, the source does not believe that such a screen update for the 7.9-inch tablet is due to come anytime soon.

This latest iPhone report generally echoes a separate item delivered this week by KGI Securities analyst Ming-Chi Kuo who claimed that the next iPhone will be announced in June and be made available to consumers sometime in July. Interestingly, the analyst said the new iPhone will introduce users to iOS 7 and feature a fingerprint identification component.

Kuo believes the slightly accelerated release schedule is part of "an effort to avoid repeating the fatal mistake of last year of the delayed iPhone 5 launch, which gave competitors room to grab market share." The analyst's report also adds more heft to the recent talk of another, low-cost version of the iPhone, which he claims will debut alongside the iPhone 5S.

In a recent appearance at a Goldman Sachs tech conference, however, Apple CEO Tim Cook suggested that rather than creating a low-cost iPhone, Apple would rely on providing earlier versions of the iPhone - like the iPhone 4 and 4S - to emerging markets.