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 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 a decade, 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. 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.