Apple Inc. is expected to unveil its next iPhone, the 5S, at a press event on September 10 according to sources from AllThingsD who are familiar with the matter.

The iPhone 5S will be a big reveal for Apple who continues to make money off the iPhone 4S and iPhone 5 but has seen its market shares dip significantly against rival tech giant Samsung and low-cost Android devices. Many of the company's woes come from a lack of any new devices in the second financial quarter. That will all change once the highly anticipated iPhone 5S finally becomes a reality to consumers.

In addition to the iPhone 5S, the rumored low-cost iPhone C is likely to debut along side the next unveiling. The iPhone C is a plastic backed iPhone that will be available in blue, red, green, yellow and white. It is expected to only cost $99 without a wireless plan making it Appe's way of competing against low-cost Android smartphones. Typically Apple's only option for low-income customers is to offer older versions of the iPhone for discounted prices.

Naturaly, any new iPhones coming out of Apple this year will run iOS 7, which recently entered its fifth round of beta testing. If the next iPhone is going to be coming out September 20, perhaps the update to smartphones that will run the new iOS will come out around that time as well. iOS 7 promises a cavalcade of new features as well as a complete reskinning of the iOS that people have come to get used to from Apple on its mobile devices.

The phone is expected to be about the same size as the current iPhone 5 but come with improved camera, LED flash and other minor tweaks to the current iPhone design. While a fingerprint scanner has been highly anticipated, it is unlikely users will see that development in Apple's mobile devices until the iPhone 6, which is expected to hit shelves quite a while from the release of the iPhone 5S and iPhone C and have a revolutionary design to keep Apple competitive with the growing phablet trend popularized by Samsung's Galaxy family of devices.