Apple to launch iPhone 5 in September with new high resolution camera

Apple is planning to release an iPhone 5 as early as September.

The company is also reported to be testing a version of the iPad with a higher resolution screen.The release of the iPhone 5 in just a few months could add millions more sales to the technology firm’s range of smartphones. The iPhone is Apple’s top seller.The model is likely to include a faster computer chip and a more advanced camera.When the iPhone 4 was launched in June last year, stocks ran out within hours and demand crashed the Apple website.The new phone could be called the iPhone 4G or 4S, with many similarities to the £500 iPhone 4.Technology experts are also adding a cheaper version of the iPhone range which will be aimed at boosting its market share in developing countries.But the speedier processor will allow programs to load quicker and the phone will be able to better compete against the BlackBerry and Samsung handsets that use Google’s Android software.An 8-megapixel camera would be an update on the 5-megapixel camera currently used in the iPhone 4.Experts have said that if Apple introduced a more basic mid-range phone the computer giant's share of the the smartphone market could explode as the number of users grows this year and in 2012.Details were made public in San Francisco by Apple’s chief executive Steve Jobs.Two industry sources later said that the screen resolution on the updated iPad will be a third higher than that of the iPad 2.