The problem is that most part of the people in China, India, Southeast Asia and South America don't have iPod Touches to begin with.
Here's a study from Nokia about the User Experience in Latin America, there's also a study about the state of the broadband internet in Brazil which doesn't look better, either. It's too expensive to download 15MB apps via mobile internet, and fixed internet is mainly 56k. South America is mostly a Firefox OS resp. Nokia Asha market (<$100 off-contract), and so is Southeast Asia. "Free on a $99/mo contract" with a monthly wage of around $400 isn't happening, even $399 off-contract will have a hard time there.
If you look at the Play Store numbers, China, India and Russia dominate free apps, while Japan, South Korea and the USA account for 70% of the paid apps. Japan can be excluded here, because NTT DoCoMo prefers to sell Sony Xperias for one reason or another. It's unlikely that you get a foot into the South Korean door, either, unless you send troops. China, India and Russia are candidates for this iPhone, along with every cat and dog in 'murica, Europe, Canada and Australia.
Of all those markets, I see the Europe doing best, for the fact that the iPhone does well in countries where contracts are prevalent (the UK, Germany are among the Top 5 of the paid category on the App Store), but not so much in the rest of Europe where mobile means prepaid - that's mid-range Android and Windows Phone territory, as iPhone 5 starts at $875 off-contract in Europe.
Why would you drop nearly $900 on a 16GB iPhone when you can have a 16GB iPad plus a Nokia Lumia 920 for the same amount of money? $499/399 or less for this iPhone on the other hand is a completely different figure, and that would still be more expensive than the Nokia flagship phone while being intended to compete for the Lumia 720/820 (and whatever their Android equivalents are) market, which are $320/250.