iPhone 5c
Apple cuts back on manufacturing of the colourful iPhone 5c. Reuters

Even as conflicting reports are doing the rounds on the release date of iPhone 6, sources have claimed that the launch of Apple's next-generation smartphone may lead to discontinuation of its cheaper-range smartphone - iPhone 5C, which was released last year along with 5S.

Chinese newspaper, South China Morning Post reported citing two insiders that iPhone 5C will be discontinued with the release of iPhone 6 in September, while the costlier variant - 5S - will stay. However, it might be made from cheaper material. 

Apple Inc. repurchased US$14 billion worth of its stock last week, following disappointing first-quarter results that could been an outcome of iPhone 5C's poor sales. Several reports suggested that sales of the cheaper-range smartphone was not impressive, as its price is not very different from that of the high-end variant. 

The Cupertino giant has not revealed the release date of iPhone 6 yet,  but South China Morning Post claimed citing industry insiders, who have seen the prototypes, that it will be launched in September. Technology websites like Tech Radar and ET News had also reported that the new smartphone would be launched in September.

However, South Korea's brokerage KDB Daewoo Securities, Chinese Analyst Sun Changxu, and Jefferies analyst Peter Misek said that Apple would release its much-awaited device at the WWDC event in June.

Apple's much-awaited smartphone is expected to sport a bigger screen display with scratch-resistant sapphire crystal glass and feature 802.11ac Wi-Fi Connectivity.

According to a note to investors by South Korea's brokerage KDB Daewoo Securities (translated by Oled Display), iPhone 6 will sport a 4.7/4.8 or 5.5″ display with a 1920x1080p (440ppi), or a 2272×1280 (510ppi). It is expected to be powered by A8 chip (64-bit), run on iOS 7.2 and have 1,800mAh battery.