Will New iMacs Crash the iPhone 5 Party?

Apple AAPL is expected to unveil the iPhone 5 this Wednesday, but rumors persist that a revised fleet of iMacs will also ship to stores before the end of the month. According to DigiTimes, Apple's upstream supply chain has "started mass shipping new iMac all-in-one PCs and Retina Display 13.3-inch MacBook Pros" this month. Few specifics are known about the new Macs, but the 13.3-inch MacBook Pro is expected to be released in September or October and should contain the same features (solid state memory, thinner design) as its 15-inch counterpart. DigiTimes believes that a fall release is being targeted to capitalize on back-to-school demand and year-end holidays. Apple could ship two new iMacs -- one for mid-range users, another for entry-level consumers -- this year. DigiTimes said that the company could have shipped a third model for high-end users, but "due to poor yields of the panels, the mass production of the high-end model has been postponed." The new iMacs are expected to feature upgrade panels and CPUs. According to DigiTimes, Apple shipped just one million iMacs in the second quarter. Follow me @LouisBedigianBZ