What's the centerpiece of this rumor, though, is the fact that Apple might be indeed readying to announce another iPhone, which all indications show will be an iPhone 4 "lite" version, with less memory, and possibly plastic casing, instead of glass, in order to keep costs in check. The rumor that spurred the idea that the shell will be made of plastic, also claimed that the new phone feels faster, indicating that the internals might be upgraded to the dual-core A5 chipset, which makes sense, with all else staying the same.
What's more, the two Reuters sources even said that this cheaper iPhone will be announced within weeks, which coincides with the rumored unveiling of the iPhone 5 sometime later in September. They also reiterated the launch of the next generation iPhone by the end of September, with improved antenna, bigger display, and an 8MP camera. The two assemblers, Foxconn and Pegatron, are said to have received a preliminary order for up to 45 million units in total of the iPhone 5.
Now, if the sources turn out correct, it's anyone's guess if this iPhone 4 "lite" will be sold worldwide, or if it will be just a local version for emerging markets carriers like China Mobile, for example, with its 600+ million subscribers.
China Mobile announced last week that the iPhone will arrive in its portfolio officially very soon, after several meetings with Steve Jobs, but didn't specify what version of it will be landing there. Apple's Tim Cook himself said in May that the iPhone won't be "just for the rich", and Cupertino is coming up with some "clever things" that would allow Apple to compete in the pre-paid market, so going downmarket on some of the most expensive iPhone 4 components, like the glass chassis and the internal memory chip might be what he meant.