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Will Apple's Tim Cook be unveiling the next iPhone this summer? One report suggests yes.Apple to begin production on latest iPhone model soon, The Wall Street Journal saysThe new model could be ready by this summerA cheaper, more colorful version of the iPhone might also be in production

(CNN) -- Let the iPhone 6 speculation begin.

Apple is kicking off production on a new iPhone in the coming months and could announce the device this summer, according to a report in The Wall Street Journal. The phone would have the same size and shape as the iPhone 5, and Apple might also be working on a cheaper model to sell in developing countries, the report said.

The Journal story contained no details about what features the next iPhone might contain, although each new iPhone model has historically boasted a more powerful processor and an upgraded camera.

It wouldn't be shocking for Apple to release an iPhone in the summer. The company has released a new iPhone model every year since the device debuted in 2007, and the release dates have all been in the summer or fall. The iPhone 5 came out in September 2012, the iPhone 4S in October 2011, and the three versions before that in the summer months.

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The Journal report's more interesting nuggets are about the cheaper, more colorful iPhone version. The report says Apple has been "working on different color shells" for the less expensive model.

There have been rumblings about a cheaper iPhone for a while now. The company has often put quality above affordability, but to be competitive in the booming Asia and South America markets, it will need to drop the price of its lower-end phones. Older, less expensive iPhone versions continue to sell well but are still pricey when compared with the array of cheap Android handsets.

The Wall Street Journal cites people "familiar with the device's production" as sources for its report.

These periodic crumbs of leaked information about Apple launches may help the company, which presents itself as extremely secretive about future products. Such occasional Apple rumor stories keep the iPhone in the minds of smartphone buyers and could influence their decisions about what phone to buy next.

It's been six months since Apple released a major new product, and as Fortune recently noted, its fans may be growing restless. Apple may also feel pressure to release a new iPhone soon to compete with archrival Samsung, whose popular Samsung Galaxy S line has emerged as a credible competitor. Reports of new products also would probably look good to Apple investors.

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The iPhone 5 has been plagued by rumors of supply-chain problems since it went on sale in September.Apple Stores have healthy supplies of iPhone 5s, analysts sayThere was concern that supply chain issues would mean a shortageCompeting devices from Google, Samsung also in high demand for holidays

(CNN) -- It looks like there will not be a shortage of iPhone 5s this holiday season, with plenty of the devices for all carriers in stock at stores around the U.S.

Analyst Gene Munster of Piper Jaffray said in a note to investors Thursday that Apple Stores have enough phones physically in stock that "consumers can walk into an Apple Store and walk out with a phone."

The iPhone 5 went on sale September 14, selling 5 million units over its first weekend. The device has been plagued by rumors of supply chain problems since then.

There were labor strikes at the Foxconn plant where the phones are manufactured, and Foxconn chairman Terry Gou said the devices were not easy to make and that, "We are falling short of meeting the huge demand."

If Munster's conclusions are correct, Apple and its supply chain partners have overcome those problems in time for the December rush. Munster conducted a survey of 20 Apple Stores to check on their stocks of Verizon, Sprint and AT&T iPhone 5s, and AppleInsider said it confirmed the availability with local Apple Stores.

Earlier in the month, Piper Jaffray called 70 Apple Stores and concluded that there were lower supplies of AT&T and Verizon iPhone 5s, though Sprint models were increasingly available.

The firm also conducted a poll earlier this month and found that demand for the device was strong in the U.S., with 55% of people planning to buy a smartphone choosing an iPhone 5 over rival devices.

Apple isn't the only smartphone manufacturer to struggle with supplies recently. Google's Nexus 4 Android handset sold out in one day when it went on sale November 13 in Australia, the UK and United States. But on Tuesday, the company announced a new wave of devices were in stock and available for purchase. Google is not releasing sales numbers for the Nexus 4.

Samsung's Galaxy S III has also been selling fast across the U.S.

According to Strategy Analytics, the Galaxy S III was the top selling smartphone in the world in the third quarter of 2012, knocking the iPhone out of the top spot for the first time in years. The iPhone 5 wasn't yet on sale, so the race for top smartphone of 2013 is still up in the air.

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The Samsung Galaxy S III smartphone, left, beside its new rival, the iPhone 5.Samsung's Galaxy S III was the world's best-selling smartphone in the third quarterFor the first time ever, it surpassed sales of the iPhone 4SBut Apple will likely reclaim the sales crown next quarter with the new iPhone 5

(CNN) -- For years tech pundits have been searching for an "iPhone" killer -- a mythical new device that would dethrone Apple's mighty handset as the most admired or popular smartphone.

It may be already here.

For the first time, Samsung's Galaxy S III overtook Apple's iPhone 4S to become the world's best-selling smartphone model for the third quarter (July through September) of 2012, according to new research by Strategy Analytics.

The Galaxy S III shipped 18 million units worldwide, compared with 16.2 million for the iPhone 4S. That's 11% of all smartphones shipped on the planet.

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Released in May, the Android-based Galaxy S III boasts a bigger touchscreen and longer battery life than the iPhone 4S, along with more megapixels in its camera and the ability to run on 4G cellular networks. Some tech sites have rated it the best smartphone on the market.

But the Galaxy S III reign atop the sales rankings will likely be short-lived. As Strategy Analytics pointed out, iPhone 4S sales waned in the third quarter as consumers waited for the iPhone 5, which went on sale September 21.

Apple sold 5 million iPhone 5s that first weekend and is expected to sell many millions more during this holiday shopping season.

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