The iPhone XS will likely be the smallest, 5.8-inch variant of the device, while the iPhone XS Max will be the largest, 6.5-inch version.
Apple has considered naming the new model the iPhone Xr, Bloomberg reported.
Apple, which posted $53.3 billion revenue in its third quarter that ended on June 30, 2018, will unveil a raft of eagerly awaited new products on Wednesday.
One way to do that is sell more phones at higher prices.
"Apple's annual launch event is nearly upon us and there are quite a few things to get excited fabout".
Donald Trump Is So Pumped For 9/11
The plane crashed into a field in rural Shanksville , where a permanent memorial called the "Tower of Voices" has been erected. A new monument added to the 2,200-acre memorial in honor of the heroes aboard that flight was dedicated on Sunday.
The iPhone Xs and iPhone Xs Max are expected to be released in September. Others have been nicknaming it the iPhone XC - after the iPhone 5c, Apple's last lower-priced experiment.
The phones may raise the iPhone average sales price, boosting revenue and profit, while expanding the total number of active Apple devices to support sales of accessories and digital services.
Despite the cost, over 42 percent of current iPhone owners in the United States are planning to upgrade to whatever Apple announces today.
Samsung and Huawei - who along with Apple make up the top three phone makers by market share - have already launched critically acclaimed flagship smartphones this year, placing more pressure on Apple to deliver with its latest iPhone.
It is clearly the Apple season, as the U.S. technology giant will announce its new products on Wednesday.
Fans of Apple may also remember that the company promised a wireless charging pad, the AirPower, a year ago.