Analyst Ming-Chi Kuo of KGI Securities said today that the specs for the affordable iPhone version have been decided upon as far back as 2011, and Apple is not changing them.
What this would essentially mean is that we won't be seeing a screen larger than the 4" display on the iPhone 5, but rather the cheaper handset will carry the same display.
The analyst also reiterated that the chassis will be made of fused polycarbonate plastic and fiber glass, which will give it better tensile strength than your typical affordable handset. The affordable handset is expected to be very thin and light, to the point of between 4-6mm, which would be a pretty svelte achievement, and come in up to four more colors than the traditional black and white of the iPhone handsets so far.
As for the flagship iPhone 5S, the analyst reiterates that one of the main new features will be a fingerprint sensor beneath the home key that will skip the need for passwords or unlock patterns, and will also potentially provide mobile payment authorizations.