Jan 18, 2013 10:08 AM EST
iPhone 5S Release Date: Apple To Start Production In March, Will Be In Stores By Mid-Summer, iOS 7 Concept Released (VIDEO)

Apple will reportedly start making the next iPhone device in March and is expected to launch sometime in June or July according to a new report by Daily Mail.co.

Investment Bank Jeffries worker Peter Misek, who reported Apple had cut parts orders for the iPhone 5, was the one who made the prediction about the new iPhone 5S to investors this week.

"Our checks indicate that preliminary builds for the iPhone 5S will start in March for a launch in June/July," Misek wrote in the report. "As word of the earlier production schedule starts to spread, we believe we could see a slight slowing of demand CQ1 in anticipation of the new product launch and Apple will likely start curtailing channel inventory."

An iOS 7 concept was also released this week according to iDigitalTimes, which reportedly showcases a wishlist of new options like a redesign of the iOS lockscreen, a new dashboard, and a redesigned notification banner that will let users read and respond quicker.

Click here to view the iOS 7 concept.

Additionally, the iOS 7 will most likely feature an updated version of "Siri," and the company is reportedly looking for someone to "evolve and enrich Siri."

"Siri's known for 'her' wit, cultural knowledge, and zeal to explain things in engaging, funny, and practical ways," according to the job posting. "The ideal candidate is someone who combines a love for language, wordplay, and conversation with demonstrated experience in bringing creative content to life within an intense technical environment."

Earlier this week Misek commented on the report that Apple was "slashing" component orders for the iPhone 5, and that the company was planning on making 65 million new devices this quarter before changing their minds. Apple reportedly suffered a "weaker-than-expected" demand during the first quarter, which has caused most within the company to believe they don't need to make 65 million this quarter.

Year-to-date, Apple is reportedly down over 11 percent compared to the same time last year, and lost 19 percent of its value during the last three months of 2012 according to Forbes.

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