Apple is largely expected to introduce a cheaper iPhone variant alongside its iPhone 5S, a move the company hopes will become a hit in emerging markets such as China. But as of now, a release date is still unclear; we've heard fall as a possible timeframe, however, a new report from Macotakara claims production will start soon. And the device will come in multiple colors no less.

According to sources speaking with the site, the device will come in a wide variety of hues, including navy, white, gray, pink, green, yellow and orange. Reports conflict about what exact colors Apple will use, but the biggest point is the absence of a black option. When the device does hit, it'll be available for $350-$400 without subsidies, a price made possible by the use polycarbonate materials.

Macotakara talks about the iPhone 5S as well, which is also expected in a wide variety of colors, including green and gold. If we're ever going to see Apple iPod its iPhone line, the company will probably release colors similar to what's available now. Otherwise, the design itself will closely resemble the iPhone 5, with the addition of a dual-LED flash and altered rear microphone.

Finally, Macotakara opines on the iPad 5, which the site says will get an additional microphone. Right now, the next-generation iPad is anticipated to hit after the iPhone 5S, meaning we can expect it to hit this fall.

The possibility of new colors doesn't seem all that far fetched, especially if Apple wants to follow its iPod business model. If anything, it'll add a dose of much-needed freshness to Apple's iPhones, which have thus far only been offered in black and white starting with the iPhone 3G.