Expect a flood of affordable but quality iPhone and iPad accessories as major Apple device manufacturer Foxconn is reportedly gearing to enter the lucrative market in time for the iPhone 5S and iPhone 6 release dates.

The plan to diversify, according to The Wall Street Journal, was Foxconn's way of breaking new grounds and gradually limit its reliance on Apple. The U.S. publication cited an unnamed Hon Hai Precision official as its source.

Taiwan-based Hon Hai is the owner and operator of sprawling Chinese production facilities contracted by Apple.

The company's next move will likely lead to the commercial availability of mobile phone cases, headsets, mobile speakers and other accessories that fit and work well with all Apple devices such as the iPhone, iPad and iPod Touch.

Foxconn's grand scheme is to become a solid company on its own - producing lines of branded electronic products, manufacturing device components and grabbing a sizeable slice of the global mobile device accessories market that has become a multi-billion industry, the same WSJ report said.

The decision came following Hon Hai's profit slide in the March quarter, which according to analysts was directly caused by Apple's income retreat in the same period. Apparently, the Q1 2013 numbers shoved Hon Hai into a realisation that its business fate should not be hinged on Apple's fortunes over the long term.

Or at least, Foxconn should draw more benefits on its distinct role as the major creator of products that consumers the world over buy in great numbers.

When realised, the move will bring in more benefits to iPhone and iPad buyers, according to analysts. If Hon Hai can actually supply most of the components required to put together iOS devices, the cost of making them would shrink considerably.

The savings Apple would realise could prompt the tech giant to offer more competitive price tags in future gizmos and such solid pricing could be seen first with the 2013 release dates of the iPhone 5S, the iPad 5 and the iPad Mini 2.

To be directly affected too is the rumoured Apple phablet, the iPhone 6, which reports said will hit the market on June 2014.

Also, consumers will likely get accessories for these devices with assured quality and cheaper price marks, thanks largely to the extended role that Foxconn will play within Apple's ecosystem.