Feeling let down by yesterday’s “Let’s Talk iPhone” event? You definitely aren’t alone. Although the announced iPhone 4S comes with improvements like a faster processor, a better camera and that interesting Siri voice assistant feature, some folks are kind of bummed that we didn’t get a radically redesigned phone with the name “iPhone 5.”

Why didn’t we get an iPhone 5? According to one analyst, it’s all about the LTE.

Will Strauss, president of wireless clip market research firm Forward Concepts, told CNET that Apple is saving the “iPhone 5” name for when they launch a new device capable of LTE speeds, commonly referred to as “4G.”

Apparently, the LTE technology simply takes up too much room for Apple’s tastes, and we won’t see and iPhone 5 until LTE is ready for smaller, compact smartphones. “They’re saving iPhone 5 for the LTE version and that won’t be out until next spring,” said Strauss.

He went on to say that the current phones out there equipped with “4G” LTE capabilities like the HTC Thunderbolt are simply too “kludgy” for what Apple wants. “There’s no way they could come out with LTE now,” he said. It just takes up too much room. As of right now, Apple woulds have to make design compromises to include the LTE chip inside their phones. This could include cutting the battery size or making to iPhone thicker to accommodate.

Apparently, Apple is unwilling to do this. When the LTE technology allows for a smaller, one-chip solution (analysts say next spring), that’s when you’ll have your iPhone 5.

In the meantime, it’s looking more and more like the iPhone 4S might just be a stopgap device, holding the reigns until Apple can unveil their iPhone 5. Having said that, it’s certainly a vast improvement upon the iPhone 4 – it’s faster, has a sharper display, better camera, and houses new features.

And what’s in a name, anyways? The 4S is certainly a “new” phone. It appears that many folks are simply let down because of the expectations of a possible redesign. If you’re dead set on upgrading to an “iPhone 5,” it looks like you’ll be waiting until 2012.