It's more likely that the iPhone 5S will hit stores in the latter part of 2013, following the trend set by the iPhone 5 and 4S.
It's even possible that Apple will skip the iPhone 5S and hop right on to the iPhone 6, though there is little suggestion that this would be the case.
And, as for the software, we're expecting that to be revised too. Some developers contacted The Next Web in early January to say they had seen a new iPhone6.1 identifer in logs - a device running iOS 7.
Apple's past 'S' models have featured the same shell as the core model, though with different features and slightly different tech specs.
The iPhone 5S isn't expected to differentiate itself from the iPhone 5 too drastically, though a better camera and slightly faster processor will surely be part of the package.
One analyst has claimed Apple could use the iPhone 5S to increase its margin for iPhones as a result of falling profitability.
One thing is for sure, with the release of such super handsets as the Samsung Galaxy S4, Sony Xperia Z and HTC One, the next iPhone will have to seriously up its game.
According to the hit-and-miss China Times wesbite the iPhone Math will carry a sizable 4.8-inch display. New rumours from January 2013 pointed towards the iPhone 5S having a 13MP camera as well. The iPhone 5S is also rumored to feature wireless charging.