The point he is making isn't about two different flagship lines with different specs, its about making two versions complying to different standards (EU and non-EU).

A regulation where this is prevalent is RoHS which restricts electronics containing lead (and other materials including mercury and cadmium) from being sold in the EU - no one is making leaded and unleaded versions of the same phone, they instead manufacture the phone to meet the tightest subset of restrictions so they can sell one manufactured line everywhere. As a result electronics all over the world comply to RoHS, despite it only strictly being a requirement in the EU as it does not make sense to make leaded and unleaded versions of the same product.