Tech giant Apple chief Tim Cook subtly suggested that the company will not release a low cost iPhone or a phablet this year.

Tim Cook stressed that Apple invests time and effort in making each phone that serves various markets rather than making a myriad of phones aim to serve specific users.

When asked by Walt Mossberg if Apple would come out with multiple iPhone models in the same year, Tim Cook responded, "We haven't so far, that doesn't shut off the future."

Tim Cook explains that it takes a "lot of really detail work to do a phone right when you manage the hardware, the software and the services around it."

According to Cook, Apple chose to put their energy into getting those things right with the iPhone and in doing so focused on a single iPhone model rather than a collection of iPhones.

There is no need for Apple to announce multiple iPhone models, specifically one with a larger screen, just because the competition is doing this. That said, when Cook relates the reasoning to the iPod portfolio we begin to see where Apple could offer an iPhone in multiple sizes. Cook states, "My only point is these products all served a different person, a different type, they served different needs."

Apple is not ready for a higher resolution or larger display in the iPhone yet. Cook reiterated his disapproval of the larger displays found in mobile phones stating, "A large screen today comes with a lot of trade-offs." Cook went on to list color, white balance, reflectivity, battery life, brightness and longevity of the display before praising the iPhone 5′s Retina Display.

Based from Cook's statements, Apple is not currently offering a phablet or a cheaper iPhone because the company does not see the need that the iPhone 5 can't fill in the phone space and the screens aren't up to Apple's standards.

As Apple works with display companies and as consumers vote for larger screens with their wallets, Apple could come around to offer a larger screen iPhone model. Rather than selling an iPhone 6 with a larger display and forcing users that want a smaller display to pick last year's tech, we could see the introduction of an iPhone portfolio.

The Apple chief Tim Cook also dropped several hints that the upcoming iPhone 6 and 5S will be released later this year. Cook said that no new products are to launch before the end of the year.

Cook also subtly dented rumours that the iPhone 5S could launch as early as June. "Our teams are hard at work on some amazing new hardware, software, and services that we can't wait to introduce this fall and throughout 2014."

Rumour has it that the next iPhone will feature Retina or IGZO screen display, A7 quad core chip processor, iOS 7, 128GB internal storage, 13 mega-pixel camera, and longer battery life. The lack of NFC support on the iPhone 5 was one of the biggest criticisms aimed at Apple's smartphone.

Meanwhile, the cheaper iPhone 5S is rumoured to sport a plastic casing, 4-inch screen display, dual core processor and 8-megapixel camera.

However, Apple did not give an official statement on the rumours surrounding iPhone 6 and iPhone 5S.