By Michael Oleaga / m.oleaga@latinospost.com (staff@latinospost.com) | First Posted: Jul 15, 2013 09:09 PM EDT

Apple is reportedly set to start production of the iPhone 5S this month, says Jefferies analyst Peter Misek.

The analyst stated the next Apple smartphone is likely to launch in late September or early October, which were the months Apple utilized to launch the iPhone 5 and iPad mini, respectively, last year.

Follow the latest Tech news on Twitter: @LatinosPostTech

According to Misek, Apple has also started production on the long-rumored low-cost iPhone. He forecast Apple will price the low-budget iPhone between $300 and $400. With such prices, Misek noted the smartphone would be categorized as mid-tier and not compete in emerging markets.

In terms of overall iPhones, Misek projects Apple to order 50 to 55 million iPhones during the fourth business quarter. Of the projected figures, five million would be the iPhone 4S, 20 million low-cost iPhones, and 25 million iPhone 5Ss.

As Latinos Post reported, Hon Hai's Foxconn, the company responsible in producing iPhones, have started to recruit new workers allegedly for the production of the next Apple smartphone.

According to MacOtakara, a reliable source claimed last month that Apple has decided to produce black, blue, orange, pink, and white color options for the low-cost iPhone. The color saturation for the low-cost Apple smartphones are reportedly similar to the iPhone bumpers the Cupertino-based company already sells online.

MacOtakara also reported a gold model of the next 4-inch smartphone will be available during the third quarter, along with the usual black and white options.

What are your expectations for the next Apple smartphone?

Let us know in the comments section below!

© 2015 Latinos Post. All rights reserved. Do not reproduce without permission.