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New iPhone Might Come This Summer, Report Says

Apple, Inc.(NEW YORK) -- It’s that time again, the time of the year when rumors of the next iPhone start to swirl.

The first set of reports comes from The Wall Street Journal, which writes that Apple is set to begin production on the next iPhone this quarter (or spring). The new phone, which is “similar in size and shape to its current one,” could be on track for a summer launch, the report says.

Apple is also working on a “less expensive” iPhone that might be launched in the second half of the year, according to the same report. The cheaper phone is said to have the same size 4-inch screen as the iPhone 5, but a different casing that could come in a number of colors.

Apple has been rumored to have been working on an affordable version of its iPhone for a number of months now. Apple declined to comment on its plans when reached by ABC News.

Many expect the next version of the iPhone to be called the iPhone 5S, following the naming structure Apple has historically used for its phones. Apple is expected to hold its annual Worldwide Developers Conference (WWDC) in June; it has typically previewed the next version of its iOS software at that event and announced some new products.

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