Rumors claim that there will be major changes in Apple's releases next year, with some speculating that the company will, once again, attempt to penetrate the mid-range smartphone market by releasing a handset with not-so spectacular specs in spring of 2015. 

Apple is reported to release the iPhone 6S, a budget smartphone that is rumored to have similar specs to the iPhone 5S. The smartphone is bound for release in spring. If rumors prove to be true, then the iPhone 6S will be released alongside Apple's first wearable – the Apple Watch.

Also, Cowen and Company analyst Timothy Arcuri included in his note to investors that Apple is working on an iPhone with a 4-inch screen display and has lower specs and features. 

Meanwhile, the iPhone 6 follow up, dubbed as iPhone 7, will be released in fall. It will pack top of the line specs and features. According to rumors, the iPhone 7 will feature a sapphire screen display, A9 processor, iOS 9, better camera, battery, and fingerprint sensor. 

Word on the street is that, Apple will release three handsets next year and will put an end to the iPhone 5S and iPhone 5C. Launching three smartphones is normal since Apple's rivals like Samsung, HTC, and LG do it all the time. Mobile manufacturers do this to cater to the needs of all the segments of the markets. There is also a speculation that Apple will launch a regular smartphone in the spring and will unveil a phablet in autumn. Apple just released its very first phablet last September – the iPhone 6 Plus. 

However, Apple has announced nothing concrete yet.