iPhone 5S release date update, iPhone 6 rumors: Apple (AAPL) details revealed on Chinese tech blog

Rumors are rampant about Apple and their reported plans to build a more affordable iPhone this August, as well as the next generation iPhone that some speculate will be called "iPhone 5S."

Chinese tech news site EMSOne cited analysts from Barclays Capital in a report on Friday (English translation: http://bit.ly/ZPOzgI ) which claimed that a "cheap edition" of the iPhone will be built this year.

The report also suggests that the so-called "iPhone 5S" is expected to be a world phone that will be compatible with new carriers, including China Mobile, the largest carrier in the world.

According to appleinsider.com , another recent report out of Japan claims that Apple is planning to cut costs by building its next iPhone out of polycarbonate, much like the company's retired white MacBook.