In a recent research note, Deutsche Bank analyst Chris Whitmore predicts Apple may unveil two iPhone models, an iPhone 4S and an iPhone 5, this fall. Whitmore argues that RIM and Nokia, two bastions of the mid-range mobile phone market, are struggling, and Apple could grab a huge chunk of their market share with an inexpensive iPhone.

Whitmore believes Apple is producing an iPhone 4S that is unlocked and priced around $349. This lower-priced model, which has been rumored before, will include a pre-paid voice plan that will entice customers to jump on the Apple bandwagon. Along with this low-priced model, Whitmore also believes Apple will also introduce an iPhone 5, which is the next generation iPhone everyone is expecting.

This article was originally published on Tuaw.