A new report from Reuters states that Apple is planning a cheaper 8GB version of the iPhone 4 to unveil alongside an iPhone 5 flagship device at the end of September. The iPhone 5 will look "largely identical" to the updated iPhone 4, but it will have a larger screen, better antenna and 8 megapixel camera.
Previous rumors were that Apple wouldn't launch a new iPhone until early October, with a possible announcement at the end of September. There have been whispers of two new iPhone models coming this Fall, and this "cheaper" 8GB iPhone 4 will clearly be targeted towards the cheaper mobile market.