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Apple will start to sell the unlocked version of iPhone 4S in November. The price will be $649 for 16GB, $749 fro 32GB and $849 for 64GB model. This is less than prices in Europe ^[2].

It is interesting that unlock is related only to GSM side of the phone. For example, users will be able to use the unlocked iPhone with T-Mobile, but not Sprint or Verizon.

Here is official information from Apple:

The unlocked iPhone includes all the features of iPhone but without a contract commitment. You can activate and use it on the supported GSM wireless network of your choice, such as AT&T in the United States.* The unlocked iPhone 4 or iPhone 4S will not work with CDMA-based carriers such as Verizon Wireless or Sprint.

If you don’t want a multiyear service contract or if you prefer to use a local carrier when traveling abroad, the unlocked iPhone is the best choice. It arrives without a micro-SIM card, so you’ll need an active micro-SIM card from any supported GSM carrier worldwide. To start using it, simply insert the micro-SIM card into the slot on your iPhone and turn it on by pressing and holding the On/Off button for a few seconds. Then follow the onscreen instructions to set up your iPhone.