A handful of analysts forecasted that Apple would release its next smartphone iPhone 6 in the summer of 2013.

Canaccord Genuity's T. Michael Walkley recently suggested that this device would hit store shelves this June.

Supposedly, the next-generation iPhone would carry over the iPhone 5's 4-inch display, but this smartphone would be accompanied by a lower-cost model specifically intended to corner markets in China, Latin America and Eastern Europe.

Given that consumers here mostly prefer prepaid mobile phone service and that 4G/LTE networks have relatively low penetration there, a cheap 3G model could be a hit in these locations.

We may see two iPhone launches this year; one in second quarter of 2013 and another in third or fourth quarter of the year. This is backed by the reports that Apple is looking to switch to a 6-month cycle instead of a 1-year cycle with the iPhone to be more aggressive against competitors such as Samsung and Google.

This echoed the speculations of Asymco's analyst Horace Dediu who believes that Apple's future will indeed consist of a new generation of device every six months. This assumption is based on the statement of former Apple CEO John Sculley.

According to Sculley, the company is "going through a very significant change now in terms of product cycles," and that "now it's really introducing products twice a year."

Reports said that the iPhone 6 will include a "Super HD" screen display and camera. Speculations claimed that it is beyond the Full HD displays in HTC Droid DNA.

This notion is backed up by an analyst. According to Jefferies stock analyst Peter Misek, "the iPhone 5S/6 has a new 'super HD camera/screen, a better battery, and NFC,' and 'possible updates include an IGZO screen for Retina+, 128GB storage."

As usual, the Cupertino-based company remained tight-lipped about the details for iPhone 6.