The rumoured iPhone 5C could actually be launched as Apple's mid-level iPhone, rather than a low-end budget iPhone as previously expected.

That's according to KGI Securities analyst Ming-Chi Kuo, who has an impressive track record for predicting Apple product launches, and believes that the iPhone 5C will take the place of the iPhone 5 when it is released alongside the iPhone 5S next month.

See: What to expect from Apple's 10 September event

His theory is that the iPhone line-up will start with the flagship iPhone, the iPhone 5S, followed by the mid-range iPhone 5C and then the cheaper iPhone 4S, ditching the iPhone 5.

Kuo expects that the price of the iPhone 5C will be between $400 and $500 without a contract subsidy. That's around £250 to £320. The iPhone 5 is currently priced between £529 and £699, so that would still make the iPhone 5C significantly cheaper than the flagship model.

He believes that the iPhone 4S will carry a price tag of between $300 and $400, which is around £190 to £250.

In addition to the iPhone 5, Kuo also thinks that the iPhone 4 will be removed from the iPhone lineup when the new iPhones launch.

Kuo's new prediction contradicts previous reports that suggested Apple will ditch all old iPhone models in favour of the iPhone 5C, leaving just the new iPhone 5S and the iPhone 5C available.

Check out our iPhone 5C preview for more information about the expected design, specifications and features of the iPhone 5C.

[Via AppleInsider]

See also:

iPhone 5S could have 128GB option, come in new gold colour

Samsung Galaxy Gear smartwatch to launch next month, six days before rumoured Apple event

Leaked iPhone 5S, iPhone 5C parts

Apple releases iOS 7 beta 6, golden master coming 5 September?