Apple iPhone 5C will no longer be available later this year as the tech company plans to stop production altogether.

Apple is allegedly planning to discontinue its iPhone 5C later this year.

South China Morning Post clams to have heard from an inside source that the device will be replaced by a new version of the Apple iPhone 5S "made from cheaper material".

Apple will also put out two models of the Apple iPhone 6 this year, one with a 4.7-inch screen and the other featuring a larger 5.5-inch display.

Sources who have apparently seen prototype models of the new handsets have claimed that they include screens made from sapphire crystal, despite recent reports suggesting that Apple has decided against using this material due to its high cost.

The plastic-bodied Apple iPhone 5C was launched alongside the Apple iPhone 5S last year as a budget alternative to the flagship device, but the handset failed to meet internal sales targets.

Apple is expected to explore new product categories this year, with the firm believed to be at work on an iWatch, among other projects.