According to a website Apple ‘N’ Apps, Apple is planning to introduce two distinct models at a special event soon. The first phone will be the rumored iPhone 5 with thinner design, A5 processor, Qualcomm GSM/CDMA chip and bigger screen. And the second phone will combine iOS 5 and iCloud with a new hardware that is internally known as iCloud iPhone at Apple. To decrease the cost of iCloud iPhone Apple will use less Flash storage and depend on iCloud, as well as replace the more expensive glass back panel with curved Aluminum back like the iPad 2.

Apple ‘N’ Apps’ source claims “Apple’s iPhone line will share similarities with their MacBook line with the iCloud iPhone like the MacBook Air and the iPhone 5 as the MacBook Pro. The two different models were the main reason Apple pushed back the launch window, and are now operating under a launch period of the last week of September.”

Other websites like Mactakara are also reporting similar rumors about cheaper version of iPhone 4. The website posted “According to sources, iPhone 4S which is based on iPhone 4(CDMA) and new iPad will be started produce since 1st week in September and will be shipped in late October.” iPhone 4S can be the iCloud iPhone made using components from CDMA iPhone 4 to keep the cost down.

Canadian wireless carrier Rogers and some European carriers have started preparing for the iPhone 5 launch. Roger is already making their employees undertake iPhone Pre-Launch Training. And European carriers have asked their employees to not take time off during September and October in preparation for a big product launch.

Though it is almost certain that we will see the next generation iPhone within 4-6 weeks there is a war going around the blogosphere about the Apple event date for iPhone 5 launch. A Japanese website Kodawarisan reported yesterday that Apple event will take place on September 7th and the iPhone 5 and iPad 3 will be announced at this event. However, today Jim Dairymple is reporting on The Loop that Apple will not launch the next generation iPhone or have an event on September 7th. He doesn’t give any time frame for when the Apple press event is likely to happen.

Our sources say that they have no information about iCloud iPhone, but Apple is preparing to launch two different iPhone models soon, along with new iPad 3 (HD) model. They maintain that we will get more information before end of this month about next generation iPhone.