Katy Huberty, an analyst at Morgan Stanley, writes after meeting with suppliers in Asia that Apple will begin the manufacturing process of new iPhones in June-July. The time frame is based on meetings Katy had in Hong Kong and Taiwan. For long it has been rumored that Apple is going to release two iPhones this year, the iPhone 5S and the low cost iPhone. Both of them are said to go in production at the same time, and both of them are expected to be announced in September.

Just yesterday we reported that Apple was possibly missing out on as many as 2.8 billion prospective customers around the globe because many carriers were not entirely comfortable with its strict conditions for selling the iPhone to them. Most of these carriers are based in markets where majority of the subscribers are prepaid and $600 smartphones aren’t exactly in everyone’s reach. Apple’s low cost iPhone is considered to be the answer to this problem, and Katy also writes that the toned-down iPhone could see overwhelming success in China even if it was sold at a price above US$160, which is considered the “just right” price for a phone in the People’s Republic.

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