1- Duplicate your current app target naming the new target like "newnameLite" is not necessary but is recommended for you to know which is the target of your lite version.
2- Find the new target newnameLite.plist and make sure you change the Product Name
3 - Go to the new target and on Building Settings in finder inside Xcode type "Other C Flags" the look for "Any architecture | Any SDK " and Change those values to
"-DLITE_VERSION=1" without quotes of course.
4- And finally use this portion of code to detect if Lite or Full version: