According to the report, the 'iPhone Lite, will come in two versions targeting different markets. Both will have a 4-inch display but different processor and connectivity options.
The iPhone Zenvo is said to be the slightly more affordable one as it runs on a ‘H5P dual-core processor’ made by Samsung, 1GB of RAM, and supports FDD 4G connectivity and Bluetooth 4.0.
The iPhone Zagato/Bertone will support TDD 4G LTE and feature an ‘H6P’ processor. These will obviously be the versions for China as support for the local LTE standard is listed.
Of course, it's unclear if these documents are legitimate; however, we posted them below for your perusal.