According to a report coming from analyst Peter Misek, Apple might be gearing for a mass production of the iPhone 5S as early as the end of this month.

According to Peter Misek predictions, Apple has already started the production of the cheaper, budget iPhone that should hit the market with a US $300-$400 price.

Misek also hinted that Apple is going to order around 55 million of iPhones for the fourth quarter where half of that order will be budget iPhone model and about half of it will go for the next flagship smartphone.

He also noted that Apple might announce its new iPhone 5S sometimes in late September or early October.

Source: Businessinsider.com.