"The iPhone 4S is coming in September!" "No, the iPhone 5 is launching in September!" That's what we've been hearing over the past several months, with conflicting reports claiming that Apple will be rolling out either the iPhone 4S or iPhone 5 sometime in September. According to a recently report from Deutsche Bank analyst Chris Whitmore, though, Apple will launching both devices later this year. Whitmore believes that the iPhone 4S will come to market as a cheap (around $349 unlocked) device meant to be used with a pre-paid plan. The iPhone 5, meanwhile, would likely be the normal iPhone refresh that we've been hearing about for some time now.

This isn't the first time we've heard rumblings of a cheaper iPhone, as Apple COO Tim Cook once allegedly teased that his company has "clever things" planned for the pre-paid market. There's no word on exactly what Apple would do to knock the price of an iPhone down as low as $350 off-contract, but it wouldn't be a shock to see the rumored device share several of the iPhone 4's features. What do you all think of the possibility of two new iPhones arriving in September? Will the folks in Cupertino really release a cheaper iPhone?

Via Today's iPhone, Fortune