By Keerthi Chandrashekar / Keerthi@latinospost.com (staff@latinospost.com) | First Posted: Apr 10, 2013 10:46 AM EDT

Those looking for more color options when deciding to buy an Apple iPhone will happy to know a new rumor states that the next iPhone, the 5S, should be coming in three colors instead of just two when it releases in July alongside the cheaper variant everyone's been talking about.

Japanese blog Macotakara has released a new report in which they write that reliable sources have informed them that there will indeed be another color option for the iPhone 5S other than just black and white. The actual color, however, is not named.

The source, as is usual with these kinds of reports, is not named, so be sure to treat this, and any corresponding information stemming from that report, as rumor until Apple officially responds with details. 

The same report also goes on to say that Apple is also gearing up a low-cost budget iPhone for a release alongside the iPhone 5S, sometime around July. This variant will apparently come in five colors, which, if one looks at the current iPod touch lineup, could be black, white, blue, yellow, and pink. 

Analysts have long expected Apple to make both these moves in order to better compete in smartphone market with more competition than ever. Samsung has done quite well for itself with a large lineup and different color offerings, and you can bet Apple has taken notice. 

What do you think Apple's third color (if there will be one) for the iPhone 5S could be?