According to a Wall Street Journal (WSJ) report, the new version of the popular Apple iPhone - to be supposedly called the `iPhone 5S' - will be fairly akin in appearance to the iPhone 5; and will likely hit the markets in summer this year.

As per the WSJ report, citing the information shared by unidentified "people familiar with the device's production," Apple will probably begin the production of the new iPhone in the second quarter of this year. The handset will be made available for sale in the summer.

The reported availability of the `iPhone 5S' in summer is in line with the fact that Apple launched its first-generation iPhone in summer 2007; and the handset's three subsequent models - from 2008 through 2010 - were also launched during summer time.

However, the iPhone 4S was launched in October 2011; and the iPhone 5 was released in September 2012 --- a move which, according to some industry watchers, was timed to better position the handsets' sales to holiday shoppers.

Meanwhile, in addition to reporting that the `iPhone 5S' will be launched by Apple this summer, the WSJ report has also revealed that its sources have somewhat substantiated the speculations about a low-cost iPhone model by saying that a less-expensive iPhone version may likely be launched "as soon as the second half of this year."