Apple will unveil two new iPhone models next month, an all new iPhone 5 and a revamped iPhone 4 that will address the entry-level smartphone market. Deutsche Bank Securities analyst Chris Whitmore on Monday rehashed a research note he distributed this past June, which suggested Apple would unveil an iPhone 5 and an “iPhone 4S” in September. The iPhone 5 would be Apple’s brand new flagship smartphone, and the 4S would be a low-cost version of the current iPhone 4 model priced around $349 unlocked. The analyst’s new note mirrors those sentiments, though Whitmore now offers a few additional details. Read on for more.

Whitmore now sees the iPhone 5 as featuring a completely revamped design highlighted by a unibody aluminum case. The analyst’s description of an aluminum case could align with renders BGR published exclusively earlier this month. Regarding the iPhone 4S, Whitmore says it will be a tweaked version of Apple’s iPhone 4 that will cost between $300 and $350 without a contract. The new low pricing could allow Apple to address the prepaid market with its new low-cost handset, or it could allow carriers to offer the device for free with a postpaid contract.

The analyst’s note also mentions that the iPhone 5 will feature a better camera and a slightly bigger display, as has been rumored numerous times to date. The combination of a high-end redesigned iPhone 5 and an entry-level iPhone 4S is expected to expand Apple’s addressable market dramatically, and Whitmore notes that a low-cost 4S could make Apple’s smartphone an option for more than 1 billion prepaid customers.

Apple is expected to unveil one or more new iPhone models at a press conference on October 4th.

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.