Apple iPhone 5S
A woman holds her new Apple iPhone 5S after buying it at an Apple Store in Tokyo Reuters

Apple is set to announce the much anticipated iPhone 6 release date on Sept. 25.

According to Chinese media reports via G for Games, the larger version of the iPhone 6 will be called the iPhone Air. The 5.5-inch Apple phablet in 16 GB version will be selling in China for $965, while the 4.7-inch version will be available for $850 for the 32 GB model. Notably, that is the current price of the 16 GB iPhone 5s in China.

Remarkably, this new report contrasts with the story from Tencent last month claiming that the Cupertino tech giant will launch the 4.7-inch iPhone 6 variant on Sept. 19, which will be in line with the previous iPhone 6 launches. Traditionally, Apple launches its products on Fridays.

Moreover, Apple ditching the 16 GB 4.7-inch iPhone 6 variant might indicate that the company will not include similar option for the 5.5-inch iPhone 6 variant as well.

According to a report from Wei Feng, Apple will offer a 128 GB iPhone 6 variant for the 5.5-inch version, stating that the storage difference will be one of the major differentiators between the two models of the iPhone 6.

Thus far, it is still unknown whether Apple will launch both models of iPhone 6 simultaneously but Bloomberg recently reported that Apple will launch both the 4.7-inch and 5.5-inch variants at the same time. On the contrary, pervious reports noted that the launch of iPhone 6 will be delayed due to issues with battery life and display technology.

The camera of the 5.5-inch iPhone 6 is reported to feature Optical Image Stabilisation technology, According to a report that cites Ming Chi Kuo of KGI Securities as a source, the optical image stabilisation will be exclusive to 5.5-inch iPhone 6 and its 4.7-inch smaller sibling will instead feature an advanced lens module.

"The 5.5-inch iPhone 6 is more likely to be equipped with OIS VCM due to lower estimated shipments and the need for more product features to differentiate itself from the 4.7-inch iPhone 6," Ming Chi-Kuo said via MacRumors.