Apple is expected to release three new iPhones this year, two of which will be unveiled in June, according to reports.

The first device is reportedly an upgraded version of the current iPhone 5 model and is expected to be called the iPhone 5S, while the second is claimed to be known as the iPhone Math, a larger device with a 4.8-inch display featuring an 8-mega-pixel camera.

The third device is expected to be released in December featuring a 12-megapixel rear-facing camera.

BrightWire was quoted by Apple, saying, "The shipments for components, including touchscreens and cameras, will start rising significantly in March, and iPhone manufacturers will begin production in late April. Hence, Apple’s suppliers will see major growth in 2Q 2013."

Earlier this month, Apple marketing senior VP Phil Schiller denied reports of the firm’s plans to release a low-end iPhone in a bid to boost its demand in developing markets.

Recently, several reports suggested that Apple has started testing a new iPhone, as well as the next version of its iOS software.

Last week, Apple’s share prices dived 3.5% to below $500, following reports that the company cut orders for iPhone 5 parts due to weak demand.