The new models would boast 4.7inch screen and a 5.7inch screens
Apple is reportedly considering releasing cheaper iPhone models in a range of colours and with bigger screens in 2014, as part of its efforts to compete with Samsung.
The two new, bigger iPhones being proposed would boast a 4.7inch screen and a 5.7inch screen respectively, according to Reuters.
Apple is also reported to having approached several supply chains for the larger screens.
Reports reveal that modifications to the phone are still being discussed as the iPhone maker faces rising pressure in the smartphone market from the South Korean firm.
Samsung has surpassed Apple in market share through its bigger-screen Galaxy phablets and by launching a range of devices at different price range.
Apple has recently launched the iTunes Radio internet radio service and iOS 7, which is reported to be the major iOS update since the launch of original iPhone.
The new radio service features over 200 stations and a catalogue of music from the iTunes Store and it is ad-supported, while users of iTunes Match receive iTunes Radio ad-free and it allows storing all music, including songs imported from CDs in iCloud.