Apple Alert: New iPhone 5S Release Date Rumored for August, Along with a Cheaper Model for China?

Apple users who are craving something new have a product to look forward to this summer: an updated version of the Iphone 5!

According to a report from AppleInsider, the latest model of the popular smartphone will "almost certainly" follow the established pattern of a late summer release.

Though the likelihood of an iPhone 6 dropping this year is slim, according to techs-perts, that hasn't stopped speculation of an iPhone 5S. Analysts are pegging August 2013 as the unofficial release date, states Vibe Magazine.

There's another twist as well:

"Apple could be preparing to release not one, but two models of the iPhone in August: one, dubbed iPhone 5S (an incremental update to the iPhone 5, much as the iPhone 4S was an update to the iPhone 4) and a cheaper iPhone aimed at China's expanding market," says UPI.

Both devices are expected to be manufactured at Foxconn, the Taiwanese mega-manufacturer that assembles an estimated 40 percent of all consumer electronics worldwide.

According to UPI, The iPhone 5S is expected to be a "world phone," meaning it will be compatible with frequencies for most LTE networks. iPhone 5, conversely, requires different models for different LTE networks.

AppleInsider's report, which sourced Chinese tech news site EMSOne, said the cheaper model will not be a world phone.

There've already been rumors that the next iPhone will feature fingerprint technology and come in a variety of Skittles colors, according to Vibe Magazine, but iPhone users will have to remain patient to bite into a colorized Apple product.

Even with their frequency of device updates, Apple's iPhone sales haven't suffered -- the company sold 47.8 million units in fall 2012, the Magazine notes.

Apple has yet to confirm any release dates or details on an iPhone "re-up", but let's hope this juicy rumor is true!