Apple is set to unveil a mid-range smartphone (iPhone 4S) in September together with iPhone 5, according to Chris Whitmore analyst Deutsche Bank. This might confirm rumours which have been doing rounds with confusion on how many phones Apple might unveil in September. Chirs believes that Apple will offer a lower-end iPhone priced between $300 and $500 paired with a pre-paid voice offering.

In a note to investors, Chris says that two-thirds of the addressable market of 1.5 billion mobile customers worldwide are pre-paid users. NYT is one of the news outlets which speculated on the cheaper iPhone from Apple in February. Business insider had a great collection of what rumours we have heard so far on iPhone 5.

“With Nokia and RIMM struggling, the time is right for Apple to aggressively penetrate the mid range smart-phone market,” adds Whitmore.

Do you think Apple will unveil 2 phones? Leave your comments below.