A new report claims Apple’s low-cost iPhone will launch in two different versions for different markets. Both versions of the so-called “iPhone Lite” are said to feature a 4-inch display, however the two models will have different processors and connectivity options. According to a report out of China, per PhoneArena, the handsets are code-named “iPhone Zenvo” and “iPhone Zagato/Bertone.” Leaked images also suggest the low-cost models will be offered in a variety of colors. The Zenvo model will reportedly be equipped with a dual-core processor that is manufactured by Samsung and will feature 4G LTE connectivity and 1GB of RAM, while the Zagato/Bertone version is said to feature an “H6P” processor and support for TDD-LTE networks in China. Apple is expected to announce the low-cost iPhone sometime this fall. The leaked image follows below.