Apple has asked suppliers to make as many as 90 million units combined of two new models by the end of the year, according to the report. The tech giant has considered adding a third assembler of new iPhones to meet demand, the paper said.
The company ordered a then-record 70 million to 80 million units in its initial production of larger screen iPhone 6 and 6 Plus models last year.
The screen size will stay the same as the previous generation, sources told the Journal. Apple also plans to add force touch for the two new models and a new color of aluminum casing for the devices.
The company reported that it sold more than 61 million iPhones in the first quarter.
Apple shares were more than 1 percent lower in Wednesday morning trading.
Apple did not immediately respond to CNBC's request to comment.