Rene Ritchie regarding the images that Gizmodo Brazil published late last night:

Apple typically makes a new, lower storage version of the past year’s iPhone to keep selling alongside the new one at a US$99 price point. Last year that was the 8GB iPhone 3GS. This year, it’ll in all likelihood be the 8GB iPhone 4.

I wan’t at all surprised to see these images pop up all over the place. But, we need to remember that this is exactly what Rene says it is, a cheaper to manufacture version of the iPhone 4 that will be sold for $99 alongside the iPhone 5.