There have been several rumours about Apple’s plan to shun the 16GB version for iPhone 6 and come up with a higher capacity version of 128GB. 16GB version has existed for all models of iPhone to date, but with a newer iOS it was expected Apple will do away with the 16GB version and would instead introduce a higher capacity iPhone 6.
A recent leak from Sonny Dickson and Feld & Volk who have in the past also leaked quite a number of images related to iPhone 6 indicates the presence of a 16GB version for iPhone 6. The Logic Board image of 4.7-inch iPhone 6 also gives details on the flash storage of the device. The Toshiba part number “7” on the chip suggests a 16GB flash storage present on the device.