Early test production on the A13 chip actually started in April.
If all goes according to plan, Apple should release a new generation of iPhone series in September this year. Some rivals, such as Samsung Electronics Co and Huawei Technologies Co, have embraced Apple's approach and now make phones using their own chips.
The US company is extending its in-house design strategy: The iPhone is one of several Apple devices that include custom processors.
The report further suggests us that Apple would also be including a new cellular modem for making calls and other power components in addition to the chips that handle graphics, Machine Learning algorithms, and AI-powered intelligence software as well. It was also popular in the U.S. where iOS has more of an even split with Android - accounting for around 45 percent of all new smartphones.
Bloomberg also predicts that the new iPhones will come with Apple's as-yet-unannounced A13 processor chip upgrade, which is to be expected, and that the XS and XS Max replacements will be half a millimeter thicker. These new chips will reportedly increase the battery life and the iPhone's speed and performance.
The third lens on the high-end models is a super wide-angle lens that produces larger, thinner shots and a wider zoom.
Two of them - the refreshed iPhone XS and XS Max - have three camera lenses. The A13 chip will land in successors to last year's iPhone XS Max, iPhone XS, and iPhone XR models. It will also enable a broader range of zoom.
The N104, on the other hand, is the device to bump off the iPhone XR, which Apple has introduced in late 2018 as its budget model.
According to the report, all three iPhone model will feature reverse wireless charging where users will be able to charge Apple Watch, AirPods and even smartphones with wireless charging support.