has a report up saying China Telecom, China's third largest mobile carrier, will not only be fielding the iPhone this year, but two new iPhones. We're fairly sure an iPhone 5 is coming this fall, and we've heard for a while now an iPhone nano/budget iPhone might be coming with it. (Two new iPhones in one year? I'll have to call Phil and ask how to deal with that many reviews!)

“According to, China Telecom will offer two types of iPhone that include the iPhone 5 and a ‘simplified iPhone 4,’” says White. “Essentially, this potential ‘simplified iPhone 4′ would be a more economical version of iPhone to target a broader customer base in developing countries such as China, allowing for an expanded market opportunity.”

Apple already owns 66% of mobile profits with one fairly high-end phone. If they get the second, more economical phone (on carriers with plans to keep those costs down), especially for new smartphone adopters and emerging markets, they could push that already astronomical figure even higher.

[Sohu via AllThingsD]