Apple will likely release a refreshed iPhone 5, also known as the iPhone 5s, this summer or at least by the third quarter of this year.

The iPhone 5S is expected to feature a higher-end processor and a higher megapixel camera than the iPhone 5. Other reports claim the updated iPhone 5 will come with a fingerprint sensor.

Analysts at Canaccord Genuity and Topeka Capital Market, two firms, have issued investment reports about Apple Inc. this week. The reports said that Apple Inc.'s supply line indicates a summer or third quarter release of the iPhone 5s is highly likely.

The analysts believe that Apple will lose market share the first half of 2013 because there are other great high-end smartphone options, in particular that use the Android operating system.

The Samsung Galaxy S4, just released this month, has proved to be solid competition for Apple's iPhone 5. So, Apple Inc. will push the release of its updated iPhone as soon as it can. 

Topeka capital's Brian White stated that the key to Apple getting back in the top mobile phone spot is confirming a deal with China Mobile this year. Since China's wireless subscribers grew to 1.13 billion people in February, and China Mobile is the only major carrier in China that doesn't offer the iPhone, a deal would help Apple's financial situation.

White explained that offering a low-cost iPhone through China Mobile would help Apple to expand its market share in China. He expects the deal to be finalized at the end of the year.

Rumors suggest that Apple's supply chain will start shipping the parts for the iPhone 5s at the end of May.

This information comes after a report that an Apple inside source said to Gizmorati, "iPhone 5S and the iPad 5 will be unveiled during a special event called 'Original Passion, New Ideas' on June 29, 2013." The event will allegedly "re-conquer the public and reassure investors."