The moderately reliable website DigiTimes claims that the iPhone 5S will arrive in stores in the third quarter of this year.
The site announced that the components for the next-generation iPhone will start being delivered by the end of May.
The insiders claim that the new handset will be a minor evolution of the iPhone 5, with slightly improved features.
Apple suppliers have reportedly received orders for a faster processor and a higher resolution camera module.
There are also rumors that Apple could be planning the release of a cheaper iPhone with a plastic case in order to capture more market share, the Digitimes reports.
Morgan Stanley analyst Katy Huberty recently talked about the collapse in the value of Apple stock and said he believed Cupertino will bring a major new feature in the next flagship smartphone.