Apple Inc. will reportedly begin the iPhone 5S production this Q2 2013. According to "The Wall Street Journal" report, the company is eyeing a summer launch for their newest smart phone plus the arrival of a lower-priced iPhone version shortly.

Though the iPhone 5S features and specifications were not mentioned, the recent report does confirm the previous summer release date rumors of the upcoming Apple smart phone. The alleged iPhone 5S parts have been spotted which further proves that the technology giant is ready for production.

Unidentified sources involved with the iPhone 5S production revealed to "The Wall Street Journal" that the latest smart phone is an upgrade of the iPhone 5. However, the sources did not confirm whether the iPhone 5S will have a fingerprint sensor beneath Apple's signature home button for security purposes.

KGI Securities analyst Ming-Chi Kuo, known for making strong predictions on Apple's upcoming devices, initially claimed the incorporation of the fingerprint sensor in the iPhone 5S in January. Other reports on the iPhone 5S suggest that it could be the flagship device for Apple's latest iOS version scheduled to be launched in mid-2013.

As for the less expensive iPhone version, it appears that Apple will concentrate on the low-end smart phone market where the consumers desire unsubsidized smart phones without any service contract. The low-priced iPhone version is reported to feature a plastic or polycarbonate body and the target countries include China and Brazil.

Apple is currently under pressure when it comes to catching up and competing with the rival companies that quickly launched new smart phones but the company refused to confirm or deny the reports about the iPhone 5S production and the predicted June to August 2013 summer launch.