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  (Image: Designed by ADR Studios / Concept Phones www.Concept-Phones.com)
  Concept image of the iPhone 5.

An analyst has claimed that Apple will only release one new iPhone model in October. The comments come as Apple prepares to hold a media event on Oct. 4, to unveil the next generation iPhone 5, according to a report from AllThingsD.

The latest comments from the analyst contradict previous rumors that Apple would have three models to release imminently; a low, mid and high-end version of the iPhone.

There have also been various rumors that Apple’s plans to make a bigger impact on the global market will see it release a cheaper more-affordable iPhone version.

Even though numerous people have hinted that Apple would release more than one iPhone, Wall Street has doubts.

Wedge Partners analyst Brian Blair wrote in a note to clients: "We don't expect a second, dramatically different iPhone to accompany this as we don't think Apple needs to have three models in the market to address the high end, mid-tier and low end since the iPhone 4 (with memory lowered to 8 GB) will drop to $99 and effectively attack those markets.”

Blair has said he expects the focus of the new iPhone to be the iOS 5, a speedier A5 processor and a higher resolution 8 MP camera with a small possibility of a larger 4-inch screen.

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He added: "We believe the casing will be largely similar to the iPhone with some particular modifications to the antennae."

He also indicated that Apple would hold its fall product event between Sept. 28 and Oct. 5 and that the latest additions to the iPhone and iPod lines would be the focus.

Blair said, "Our view is that pre-orders for the iPhone will start within days of the event and units will be available within 10 days of the start of pre-orders. We believe the new iPhone 5 will offer slightly modified hardware on a faster processor.”

The analyst went on to cast doubt on rumors that an iPhone 4S and an iPhone 5 could be forthcoming in October. He said, "A 4S would simply cost more and a 4S itself wouldn't create a mid-tier market unless it was priced at $99 and the iPhone 4 went to $49 with the new iPhone at $199. We see this scenario as unlikely.”