Apple's new iPhone refresh, the iPhone 5S, will have its global introduction on June 20 with the actual retail selling of the smartphone to commence in early July, new reports said.

And a month after the iPhone 5S's July commercial release, the phone's rumoured budget version will also rollout with China and India as the first markets to receive the low-cost handsets in August.

Citing MacOtakara and Electronista as its sources, CNET reported that Apple will host a June 20 event, which could be squeezed within the company's annual Worldwide Developers Conference (WWDC).

However, the same report noted too that the WWDC usually takes place during the second week of June so the new iPhone models introduction could end up a special event that Apple intends to stage separately.

Another major shake up that Apple will reveal on the June 20 event is the likely uncloaking of the iOS 7, the platform that is expected to power the tech giant's 2013 device lineup, starting off with the iPhone 5S and its cheaper editions.

What to expect on that day is a matter of speculations though analysts have been harping about on the June iPhone 5S release since early this year, with KGI Securities and Piper Jaffray both predicting that it is a June debut for the Apple flagship smartphone.

Also, analyst Gene Munster has declared that production of the new devices have already commenced last month and Apple is right in schedule to preview both the iPhone 5S and its more affordable version by late June.

The iPhone 5S is said to rollout with the A7 64-bit computing chip plus fingerprint sensor beneath the Home button for added security.

Analysts, however, expect minor hardware tweaks for the iPhone 5S, insisting that the iPhone 5's 4-inch screen size will be carried over plus its mix of glass and aluminium body-make.

But one attraction in the offing is the multiple colour options for the handset, marking Apple's departure from the black and white phone body template it followed since iPhone was introduced in 2007.