AP
Apple is looking for a high-end and a low-end model, presumably, the iPhone 5S for high end and the iPhone 5C for the low-end.
This isn't exactly new news. Last week All Things D reported Apple was hosting an event on September 10 to announce the new iPhone. It was pretty much expected the new iPhone would be available a week after the event.
Also, Apple hinted a new iPhone was coming in September on its last earnings call. There was pretty much no way for it to hit its guidance without a new iPhone model.
Still! No point in being wet blankets here. The WSJ says Apple has two new phones and the way, and that's pretty exciting. After nearly a year without any new products Apple is back at it.