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Apple tipped to launch new iPhone this summer

Published: Updated:

Apple is planning to begin production of a new iPhone similar in shape and size to its latest version, the Wall Street Journal reported today.

Sources told the newspaper that the latest model would be launched this summer. Apple however refused to comment on the matter, the WSJ said.

Apple is also continuing its work to produce a cheaper iPhone with its partners in Asia, the business daily reported. The new four-inch device will be likely ready by the second half of this year and will "use a different casing from the higher-end iPhone," it was reported.

Apple's chief executive Tim Cook has been reluctant to comment on Apple's plans for a less expensive device, the WSJ said. Cook said at an investor conference in February that Apple "wouldn't do anything that we consider not a great product."