Appleinsider is quoting "extremely reputable sources" that seem to have access to Apple's future product road map and is making some fantastic headline-grabbing claims about the near-future for the company.
The iPhone nano rumour has been rumbling on for a while now, but this new info offers insider insights with details of the second iPhone, the introduction of which, according to the site, will be a small part of other Apple launches:
"The move is believed to be part of a broader, all-out blitz on the consumer electronics sector this holiday shopping season, in which a staggering array of gadgets from the Cupertino-based firm is expected to leave would-be rivals confused and unable to react."
The spec for the second iPhone is as has previously been reported - a scaled back iPhone with just phone and iPod capabilities and scroll-wheel functionality.
Offering the phone in a range of nano-esque colours in time for Christmas would certainly boost its appeal to the tween and teen market as well as the wider (rather than committed gadget-loving) female audience.
Sources are quoted as saying that the development of the second iPhone has already reached final engineering stages.
Pricing is expected to be considerably cheaper than the iPhone (which isn't hard) but not so cheap as to infringe on the new, also to be launched, as-yet-unannounced iPod nano's sales figures.
"Informed speculation" also states that these mini-iPhones would be a lot more freely available through Apple and AT&T partners and would not require a 2-year contract.