New iPhone: Apple Unveiling Newest Device Sept. 10, Reports Say

The new iPhone will reportedly be unveiled by Apple on Sept. 10, according to AllThingsD.

Citing an unnamed source, AllThingsD reported that the latest version of the iPhone will make its debut in September during a special event, and Apple will get the new smart phone on store shelves before the holidays, the Chicago Tribune notes.

Apple is exploring launching iPhones with bigger screens, as well as cheaper models in a range of colors, over the next year, according to several sources with knowledge of the matter. There were also rumors that the iPhone will have a fingerprint scanner to safeguard the devices, as the smart phone giant focuses its energy on mobile payments.

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The company has yet to respond to media inquiries seeking confirmation of the reported release date of Apple's new iPhone.

Despite the popularity of the iPhone, Apple has seen a recent dip in global sales, AllThingsD reported, with Android devices and Samsung smartphones chipping away at the iPhone's hold over the smartphone market.

Consequently, there is significant speculation that Apple will introduce a new, less-expensive iPhone alongside its updated iPhone 5, to appeal more to those who cannot afford their high-end smartphone or are unwilling to pay the price.

The Cupertino, Calif.-based company, with an estimated value of $415 billion as of March, has offered its year-old and 2-year-old models for $100 and $200 less than a new iPhone to appeal to that demographic.

What is known about the new iPhones is that it will be running the iOS 7 operating system, which was announced in June during Apple's developer conference.

"The new [iOS 7] software includes a radical redesign of the overall look of the iPhone’s menus and icons, but the other new features are largely incremental updates, such as improved notifications, better photo-organizing abilities and additional capabilities for developers," AllThingsD's Ina Fried wrote.

Samsung appears to be pre-empting the Apple iPhone launch in September with its expected introduction of its next-generation Galaxy Note Sept. 4.

In 2012, Samsung overtook Apple to become the world's largest smartphone maker, the Chicago Tribune reported.

Since January, Apple's stock has fallen 20 percent, according to the Chicago Tribune.

As of Monday afternoon, a share of Apple stock is valued at $466.90.

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