Apple's Cupertino event is expected to see that launch of a new flagship iPhone 5S and a lower-cost iPhone 5C that will have internal components similar to the iPhone 5 encased in new colored plastic shells. In a report last month, the iPhone 5C was projected to give Apple a "huge boost" in China, with its lower cost making it an attractive choice for the market.

I've recently speculated that, internally, Apple considers the 5C its "China iPhone". A medium-cost iPhone that's not a two-year-old model could go gangbusters in South East Asia.