parts is parts!
and why is "iPhone Air" surprising? If there are going to be two sizes, Apple will need to call it something to differentiate them... You think Apple is going to call them: "four point seven inch iPhone" and "five point five inch iPhone"? If so, they're paying their marketing team WAY too much...
the iPhone Air name to distinguish the smaller of the two would not be a surprise to me at all.
Why not just call it the iPhone 6. Why does it need to have a size description in the name?