Another picture showing the front panel of the device indicates that there won't be much of a change in the dimensions of the phone from the Apple iPhone 5, which means we are looking at the same 4 inch glass that is on the current version of the iPhone.
The Apple iPhone Lite is expected to be made available in emerging markets where the majority of consumers cannot afford the Apple iPhone 5. Last week, we told you that Jefferies' analyst Peter Misek estimates that the phone will cost $300-$400 which would make it more of a mid-range model. At that price, cheap Android and Windows Phone 8 models would be undercutting the price of the iPhone Lite, making the latter uncompetitive in emerging markets.
source: USwitch via @srcleaks