Apple plans to launch iPhone 5S on September 10

The world’s biggest smartphone maker, Apple Inc., is reportedly planning to launch its next iPhone on September 10, 2013.

It is being speculated that Apple might introduce both an iPhone 5S as well as a cheaper iPhone for lower-end customers this year, Fox News reports.

The company has been losing its share in the smartphone market to Google's Android platform in the last few quarters.

Apple's iOS has accounted for 13 % of smartphone sales in Q2, compared to 17 % in the same period last year, the report added.

Meanwhile, Android has expanded its share from 69 % to 79 % in the same period.