Apple’s launch of a new device is always followed by rumors and speculations. Apparently, the latest to join the league is the release of the low-budget iPhone and iPhone 5S, which it seems will hit the shelves this September.

The Cupertino Calif.-based company loves to experiment with new designs and innovative features to make its products appealing to consumers. This was apparent with the iPod Touch that Apple launched in six stimulating color choices. Certain rumors point out that Apple might use the design of its iPad Mini in its next version of tablet- iPad 5.

The speculations hitting the corner, hint out that Apple plans to release the iPhone 5S and low-budget iPhone in different choices of colors instead of usual black and white. These rumors state that the low-budget iPhone might come out in different color choices including navy, gold, white, orange, gray, pink, green and blue but no black. It’s also said that the device will have a polycarbonate body, just like Nokia Lumia. Hoping for a September release, Apple will start the production process in June and July.

Speculations also hint that the iPhone 5S will also come in a choice of black, white, green, gold and other colors offered in the low-budget iPhone. The iPhone 5S is also expected to be out with a revamped 12 megapixel camera with dual-LED flash. We always see updated processor in new models of Apple’s smartphones and same will be the case with the latest iPhone. The iPhone 5S is hoped to have a 1.2Ghz quad-core Apple A7 processor with 2GB of RAM, which will make the device faster than its predecessors. There also might be a fingerprint reader on the Home button of the iPhone 5S.

Just like its predecessors, Apple is expected to hold a special press event for its upcoming iPhone 5S sometime in September.

In case rumors are to be believed, would we like to buy a colorful iPhone 5S? Share your views with us.