Apple plans to launch two new iPhone models this fall according to a new report: an iPhone 5 and a new “simplified iPhone 4.” In a note to investors on Wednesday, Ticonderoga Securities analyst Brian White cites a Chinese-language report from Sohu.com in stating that Apple and China Telecom have reached a preliminary agreement. The site reports that the leading Chinese carrier will launch two distinctly different iPhone models beginning as early as the end of October — an iPhone 5 and a retooled, less expensive iPhone 4. According to White, the new iPhone 4 model could be “a more economical version of iPhone to target a broader customer base in developing countries such as China, allowing for an expanded market opportunity.” In fact, a new high-end model and a less expensive iPhone 4 could combine to create a long-term $68 billion opportunity through China Telecom alone, the analyst wrote. White reiterated his Buy rating on Apple stock, and he maintains his 12-month price target of $666.

Zach Epstein has worked in and around ICT for more than 15 years, first in marketing and business development with two private telcos, then as a writer and editor covering business news, consumer electronics and telecommunications. Zach’s work has been quoted by countless top news publications in the US and around the world. He was also recently named one of the world's top-10 “power mobile influencers” by Forbes, as well as one of Inc. Magazine's top-30 Internet of Things experts.