Foxconn is already producing iPhones in their new Brazil-based factory, and these are the latest pictures to leak out. It purportedly shows a budget iPhone 4 model, which features “a different model number, N90A — this has already been rumored to represent a cheaper version of the iPhone 4.” Click here to see more. Continue reading to watch Dave Letterman’s prediction on the new iPhone 5 features.

These particular phones won’t be hitting any shelves anytime soon though – they didn’t meet Apple’s manufacturing standards. Gizmodo Brazil editor-in-chief Pedro Burgos tells us that, though the note scribbled in the “reprovado” (“disqualified”) section is hard to read.

[via Gizmodo]