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Apps Developing lite and premium app

Greetings, I don't know if this is the right place to post this question , but I was wondering , how can I develop lite and premium versions for app, and in that manner, how can update work and know which version to download.
 
Either create 2 different apps with different package names and play store entries, or make a single app and use in app purchases to unlock premium features.
 
Either create 2 different apps with different package names and play store entries, or make a single app and use in app purchases to unlock premium features.


From what I've seen with games especially, many seem to be operating like that now, i.e. freemium. And presumably you only have to maintain, bug-fix and update one version then, rather than both a "free" and a "paid" version of the same game or app.
 
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