The new Apple iPhone 5S will look more or less the same as the iPhone 5 but with a faster processor and an improved camera, technology.
It is not clear whether the second, cheaper iPhone that Apple has been said to be planning for this year would be released alongside the 5S.
Sources say Apple is also considering releasing new iPads next month. Apple could launch a fifth-generation iPad in April alongside an updated iPad mini.
The new iPhone 5s will have some interesting features, the most interesting one being fingerprint recognition under the Home button to improve security and useability.
The new low cost iPhone 5 model will have a case made of fiberglass and plastic (as opposed to metal like the 5s), making it it 18g heavier in total. It will come without the Smartflash camera technology, and will be 6mm thicker than the new 5s model. It also will not have the new A7 processor, instead remaining with the A6. One feature it will have over the 5s model is that it will come in a choice of 6 colors.
Apple is expected to unveil both devices alongside iOS 7 this June, with the devices coming available in July.