Apple is readying two new iPhones for release this summer, Digital spy said citing reports from China.

China Times claims that the Cupertino firm is planning to launch a larger version of the handset alongside the rumoured iPhone 5S in June.

The report refers to the larger model as the 'iPhone Math' and says that it will carry a 4.8-inch display and an 8-megapixel camera.

It further claims that Apple is planning to release another iPhone handset later in the year with a 12-megapixel camera, but the credibility of its sources remains unverified.

Apple's iPad line has also been the subject of intense speculation of late, with Topeka Capital Markets analyst Brian White claiming to have heard that the firm is intending to refresh its tablet range twice a year from 2013.

Previous reports suggest that a second-generation iteration of the iPad mini sporting a Retina display is likely to be released this year.

Apple is yet to officially confirm any plans for new hardware in 2013.