iPhone 6 and iPhone 5S release date may not happen anytime soon as a new rumour claimed that tech giant Apple will launch the iPhone Mini Light.

According to rumours, iPhone Mini Light will come with a plastic casing and may come in many colours. As for the specs and features, it will boast an 4-inch screen display, 8MP rear camera, 1GB RAM, 16GB storage and Bluetooth 4. The device could be a cheaper yet stylish version of iPhone 5.

The most surprising of all, the device may bear a tag price of below $300.

The speculated launch of iPhone Mini Light is probably due to the myriad of low cost smartphones that are currently available in the market.

This report is fairly close to the claims of an analyst who stated that an iPhone 5 with plastic casing is set for release in early September while the full-fledged iPhone 5S release date was pushed back to the end of the month.

According to the latest note of KGI Securities analyst Ming-Chi Kuo, the rumoured iPhone 5S is facing production delays and setbacks with the inclusion of various components . Thus, it could yield to a limited supply upon release date.

The analyst also stated that the iPhone 5 with plastic casing and iPad 5 will be released earlier than iPhone 5S. Kuo speculated that the iPhone model will bear a tag price of $450 to $550.

Based on the past iPhone releases, the flagship smartphone of the company usually debuts with Apple's operating system. However, it is still unconfirmed whether Apple will release the full-fledged iPhone 6 or the cheaper iPhone 5S.

Also, it is not a remote possibility that the iPhone will be released before Christmas. There is a chance that Apple may announce the iPhone 6 on Thanksgiving just in time for the holiday rush.

Aside from the new iOS 7, Apple's iPhone 6 is speculated to be powered by A7 quad core chip. It will include some features such as Near Field Communication, 13MP back camera and longer battery life. And just like its brother, iPad, it may have a large internal storage of up to 128GB.

Meanwhile, the cheaper iPhone 5S is expected to boast a 4-inch screen display, a dual core processor and an 8MP back camera all housed in a cheap plastic casing.