Just like the iPhone 5 before it, details on the iPhone 5S are already being leaked months ahead of its expected reveal later this year. The latest rumors concern the theory that Apple may be planning to release two iPhone models this year.

A report from Digitimes on Tuesday says that Apple will release a low-cost version of the iPhone for emerging markets, like China, where consumers are increasingly demanding cheaper devices. Digitimes’ sources said that low-cost device would be radically different from any iPhone before it:

Some sources claimed that they have seen the sample of the low-cost iPhone, which will come with a larger display, meeting the prevailing trend for the adoption of 5-inch displays for high-end models. They added that the low-priced iPhone will also have a brand new exterior design.

The sources also report that the recent introduction of cheap Qualcomm processors for entry-level to mid-range smartphones “may pave the way for Apple bringing out the low-cost iPhone.” It wouldn’t be that hard for Apple to design a low-cost chip that still provides a fair bit of power, but the company may also opt to go the iPad Mini route by powering its rumored low-cost iPhone with an older processor from a previous device, like the A5.

Speaking of the iPad Mini, Digitimes suggests that Apple may be looking at releasing a cheaper iPhone after seeing the relative success of the iPad Mini. It’s no secret that a lower price attracts more consumers, but Apple has proven that a high price point doesn’t stop it from selling millions of units in a weekend. A lower priced device would, however, help the company see increased success in emerging markets, like India or South America, where brand loyalty isn’t as strong.