An analyst is predicting two iPhones which Apple will release. One being the 4s, one being the 5. They may sell the 4S unlocked for $350 with the 5 being roughly the same price as the current iPhone 4.

The 4S would be just an internal hardware upgrade. This would include the A5 processor, better graphics and more RAM. Whereas the iPhone 5 would include a (probably) different external hardware(different look), 8MP camera-1080p video, and aluminium back and whatever else Apple joys us with.

Whether the iPhone 5 will be released in 2011 or 2012 that is unknown but we may see two new iPhones, one being more affordable.