According to a report by AllThingsD, sources have told the site that an Apple special event is scheduled for September 10th which could reveal the next iPhone.
Rumours have circulated around the low-cost iPhone 5S, with an NFC reader, Fingerprint reader, 4-inch 1136 x 640 display and 12MP camera with dual LED flash in a plastic casing.
According to MacRumours, KGI Securities analyst Ming-Chi Kuo, who has spoken accurately about previous Apple products, has stated that the new iPhone 5S may include a "sapphire-convered convex home button housing a fingerprint sensor."
The launch comes at an optimal time due to recent reports that Apple's Board of Directors have been showing concern for Tim Cook's slow pace of innovation.
In a Fox Business News report, correspondent Charlie Gasparino stated, "the stock price is down 35% from its all-time high."
Any new phones that may be unveiled on September 10th should run on Apple's iOS 7 that was unveiled at the WWDC 2013 Keynote back in June.
The iOS 7 update is expected for newer and older Apple models, but the launch date for the update is not confirmed.
"An Apple represenative declined to comment on the timing of any upcomig events," AllThingsD reports.