iPhone 5S
File photo of Apple iPhone 5S being displayed at an Apple shop in Tokyo's Ginza shopping districtReuters

Apple Inc. has reportedly cut the prices of its current genertaion smartphones iPhone 5S and iPhone 5C in the US, sparking off speculations that it was done with the view of launching its new flagship smartphone iPhone 6.

iPhone 5C 16GB would be priced at $29, down from $49, while iPhone 5S 16GB would be cheaper by $50 after its price was supposed to be reduced to $99 from $149 on AT&T, Verizon, or Sprint with a two-year contract, a Walmart spokesperson told CNET last week. 

The price cut of iPhone 5S and 5C might have nothing to do with the arrival of its successor but speculations are inevitable as most smartphone makers, including Apple Inc., usually bring down the prices of existing products ahead of new releases.

It may be recalled that several retailers like Walmart, Target and Best Buy had slashed the price of iPhone 5 weeks before iPhone 5S and 5C were released last September.

Apple Inc. may not reveal any details about iPhone 6 until it is officially unveiled as seen in the case of its predecessors but that will not stop leaksters from revealing details about the device.

Several reports have surfaced on the release date of Apple's upcoming device but most point towards a September launch. German website ApfelPage reported that iPhone 6 would be unveiled on 19 September, citing leaked internal documents of German wireless carrier Deutsche Telekom. It contradicted a Reuters report that the 4.7-inch model would be released in August, while the 5.5-inch variant would arrive in September.

It may be recalled that a report by Nikkei and a research note by UBS Managing Director Steve Milunovich (via Barron's) also claimed that iPhone 6 would see the light of the day either in August or September. 

The Cupertino giant is said to be planning to come out with two models of iPhone 6 - 4.7-inch and 5.5-inch - with both having scratch-free sapphire crystal glass screen. It is reported that the devices will be powered by a 20-nanometer A8 chip (64-bit), run on the recently released iOS 8 and come with an 8MP camera with several upgrades, including flash and Optical Image Stabilisation.

According to South Korean brokerage KDB Daewoo Securities, the smaller model of iPhone 6 may come with a 1920x1080p (440ppi) resolution, while the larger device may feature a 2272×1280 (510ppi) resolution.

Apple Insider reported, citing analyst Ming-Chi Kuo, that iPhone 6 may feature low temperature polysilicon in-cell touch panels, Touch ID fingerprint security, NFC and metal casing. The device may also feature sensors that can detect pressure, temperature and humidity, according to a post by Chinese analyst Sun Chang Xu on her social media page.