Apple, Inc. is planning to hold an iPhone event on September 9, the second Tuesday of the month, where it will supposedly launch the newest iPhone 6.

Reports said the California based company is set to launch two new models sporting larger screens: one with a 5.5-inch screen and another with a 4.7-inch screen.

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The September 9 date was announced by tech news website, Recode that often has accurate information about Apple launch dates. Some reports, however, say Apple's newest smartphones won't be released until October.

Market watchers expect Apple to unveil two new iPhone 6 models but some reports speculate it's possible that one phone will be released at a later date.

In anticipation of the bigger screen iPhones, investors responded by sending Apple's stock higher to 18 percent. Analysts predict Apple will sell a record number of handsets this year.

By this December 30, Apple has asked its manufacturers to produce about 70 million to 80 million bigger screen iPhones compared to the initial 50 million to 60 million units of the iPhone 5S and 5C. 

Apple has launched a new iPhone every year since the line was introduced in 2007 by former CEO Steve Jobs. Since September 2011, new iPhones have been unveiled every year.

Although smartphones make up half of Apple's revenue for the past seven years, Apple is getting ready for more competition than ever before.

Even if Apple caters to a high-end market, Samsung and lower end Huawei and ZTE have dominated the Asian market with smartphones featuring bigger screens.

Last year's iPhone 5S and 5C also debuted on the second Tuesday of September last year. Market analaysts predict Apple will also release new iPads and a wearable device this year. 

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