Long-running Japanese magazine MacFan has published alleged drawings of what appear to be 4.7-inch and 5.7-inch iPhone 6c models in its latest issue, reportsMac Otakara [Google Translate]. The images appear to show a flat, bezel-free device with rectangle-shaped volume controls like those found on the current iPhone 5c, as well as a Touch ID home button on the front of the device and a camera with a single LED-flash on the rear.
While the validity of the drawings are unknown, iPhone 6 rumors have suggested that Apple will continue with the dual iPhone strategy, producing the iPhone 6 in two different sizes. The most recent report from Japanese newspaper Nikkei said that the iPhone 6 could launch "as early as September" in 4.7-inch and 5.5-inch sizes. Other reports have suggested that Apple will cease the production of a plastic iPhone in favor of using metal casings for both phones.
Ultimately, it is unlikely that a lower-end 5.7-inch iPhone 6c would be released alongside a higher-end 5.5-inch iPhone 6. However, having two iPhone lines and two sizes would allow for Apple to continue with its current pricing strategy, offering a full-priced flagship device, a mid-tier lower-cost device, and an older device at an even lower cost. Mac Otakara also published a report [Google Translate] last month on the possibility of an expanded iPhone 5c line-up with 4.7-inch and 5.7-inch models.
Apple is expected to unveil the next-generation iPhone sometime in Fall, which is likely to incorporate a durable sapphire display along with expected processor and camera upgrades.