Low Cost iPhone to Come in Two Versions?

According to a new report from Weibo mircoblogger @Kang (via @Ctech), the low-cost iPhone will launch in two versions targeting different markets.

Highlights from the report:

Cheap iPhone will have two versions, the positioning of different markets.
Its code-named Zenvo and Zagato / Bertone, both for the car manufacturer.
The Zenvo – is the low version, Zagato the high version.
Low version to feature a 4-inch screen, support for FDD 4G network, Bluetooth 4.0, using H5P dual-core processor,
The high-end version (Zagato / Bertone) with a 4-inch screen, support for TDD 4G Network , Bluetooth 4.0, using H6P processors.

I’m really not sure about this one. Take this with a huge dose of salts.

For those who don’t know, below are the photos of the cars listed above: