Just how many iPhones are going to launch this fall?

Back in May, we heard reports of the iPhone 5 launching with two distinct models – a standard version and a “pro” type version. The standard version was said to be a very slight upgrade from the iPhone 4.

That rumor morphed into the rumor that the iPhone 5 would be launching separately from another iPhone, possibly called the 4S. The 4S was reported to be an upgrade in hardware only, not changing the design very much from the original iPhone 4.

There were also rumors that there would be no iPhone 5 this fall, just an iPhone 4S. But people are pretty convinced now that an iPhone 5 will be coming out this fall.

Both of our rumors today come from 9to5 Mac. According to their sources, there will indeed be two different models of the iPhone coming out this October, possibly being announced in September. One will be the low-end model that is basically an iPhone 4 with some upgraded hardware. They say that October 7th is the likely date for that device.

And apparently, the iPhone 5 launch is still on for October but it might be delayed a bit due to production issues. When it launches, however, it should be a vastly different phone than its predecessor –

It appears that the tear-drop shaped iPhone 5 with larger screen and thinner, rounder body is seeing continued design and production delays, at least on one assembly line (Apple has multiple production sources – Pegatron, Foxconn, etc). We therefore think that iPhone 5 will be delayed slightly at the very least and may see shortages all the way into 2012.

The iPhone 5 itself is a sight to behold, we’ve been told. It is impossibly light, yet much firmer than Samsung Galaxy phones which are backed in plastic. The camera rivals point and shoot cameras and will be a major marketing point for this device.

Well well well, now that sounds like the iPhone 5 that everyone has been salivating over. But with talk of production delays, it could end up just being a beautiful frustration – at least for a little while.