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Rumor: Low-cost iPhone, new iPad mini coming in August, but no 'iPhone 5S' until 2014

A questionable new rumor claims that Apple doesn't plan to release a true successor to the iPhone 5 until 2014, instead focusing on a low-cost iPhone this year.

The details were reported on Friday by DigiTimes, which is notorious for reporting rumors that prove incorrect, but does on occasion relay accurate claims from its supply chain sources. This time, the site claims that Apple will not release a next-generation iPhone or a new 9.7-inch iPad until early 2014.

Instead, the report claims, Apple will begin shipping a low-cost iPhone with a plastic chassis, and a next-generation iPad mini this August. Components for those new devices are allegedly expected to begin shipping in July.

It seems unlikely that Apple would hold off on releasing a new high-end iPhone model until next year, with the iPhone 5 having gone on sale last September. The iPhone is Apple's most popular — and most profitable — product.