iPhone 6 release date with the rumoured low cost iPhone 5C will be sooner than later as one of Apple's Asian supplier confirmed that it is currently working on the IC audio chips for both devices.

A source told tech blog Stabley Times, "They've already finished with the iPhone 5C IC chip and now the company is on the middle of production on iPhone 6 IC Chip."

The unnamed Taiwan-based supplier did confirmed to the publication that an iPhone 5C will be coming later this year.

Apple will release the cheaper iPhone 5C due to a lot of reasons. First, Apple wanted to abolished the iPhone 4 and iPhone 4S and to discontinue the release of devices with 30-pin dock connector.

It would also allow Apple to offer the one year old iPhone 5 for free contract model. The company can offer the iPhone 6 and iPhone 5C at $199 and $99, respectively. This is a profitable lineup for Apple that will battle head on with Android-based smartphones.

Recently, an iPhone 6 and iPhone 5C leaked video is currently making the rounds on the internet. The video shows the back plate and screen of the alleged smartphones. The video was posted by Macotakara.

Last month, a photo from a Chinese Web site WeiPhone was picked up by Japanese tech blog Macotakara. The photo shows numerous iPhone boxes with label "iPhone 5C" on the side. Although the source of the image is unconfirmed and there is no way to confirm the authenticity of the photo but the rounded edges and Apple logo are some of the recognizable features of the case.

iPhone 6 is speculated to tag along the rumoured "iPhone 5C" in September. There are conflicting reports on the possible iPhone 6 release date.

iPhone 6 release date will be soon and will come with A7 quad core chip; Near Field Communication; 13MP back camera; up to 128GB internal storage and longer battery life.

The cheaper iPhone will come with 4-inch screen display, a dual core processor and an 8MP back camera all housed in a cheap plastic casing. However, based on Kuo's note, the cheaper iPhone may come with iPhone 5's specs and features.

Apple still has to confirm the iPhone 6 release date and its specs and features and whether it will release the rumoured iPhone 5C.