China Telecom plans to offer the iPhone by the end of 2011, according to a new report. Citing a source close to the company, Reuters reports that the move would help China Telecom, China’s smallest carrier with 106 million subscribers, gain more high-end 3G users. “It’s expected to happen this year. China Telecom already has the required technology and it all hinges on the content of the agreement. As we all know, it’s not…