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Low Cost 8GB iPhone 4 to Debut Alongside Larger Screen iPhone 5 in September?

Reuters is reporting that a new lower priced version of the iPhone 4 is set to debut alongside a larger screen iPhone 5 at the end of September. The phone is said to feature an 8GB flash drive manufactured by a Korean company.
"Apple may want to push into the emerging market segment where customers want to switch to low- to mid-end smartphones from high-end feature phones, which usually cost $150-200," said Yuanta Securities analyst Bonnie Chang. "But I think for an 8GB iPhone 4 the price is hard to go below $200, so Apple will still need a completely new phone with low specifications for the emerging markets."
In addition to this low cost device, Apple is expected to launch a new iPhone 5 with a larger display.
The new iPhone, which some call the iPhone 4S because of its largely identical appearance to the existing iPhone 4, will have a bigger touch screen, better antenna and an 8-megapixel camera, one of the people said.
Hon Hai and Pegatron will reportedly manufacturer the device and have been told to prepare production for up to 45 million units.
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