Apple has unveiled the iPhone 5C, its new assault on the lower-cost smartphone market.

The new device features a similar specs to the previous generation iPhone 5, but replaces the metal and glass construction with a polycarbonate back.

The 5C comes in five colours (white, red, blue, green and yellow) and runs the same version of iOS 7 as the concurrently accounced iPhone 5S flagship.

Apple made the announcement alongside that of the iPhone 5S, its new flagship smartphone.

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Apple SVP Phil Schiller said the 4C was "made with all the incredible tech that customers love with iPhone 5".

Schiller admitted that the design had been leaked online ("and that's cool") but said that it would represent a big step for Apple, introducing the product to a new market of mid-range smartphone buyers.

Apple chief designer Sir Jony Ive said of the phone: "It's simpler, more essential, more capable and more colorful."

Apple said it will be available to pre-order starting September 13 and will be released a week later.

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  • iPhone 5S

  • iPhone 5S

  • iPhone 5S

  • iPhone 5S

  • iPhone 5S

  • iPhone 5S

  • iPhone 5S

  • iPhone 5C

  • iPhone 5C

  • iPhone 5C

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  • iPhone 5C

  • iPhone 5C

  • iPhone 5C

  • Apple Introduces New Two New iPhone Models At Product Launch

    CUPERTINO, CA - SEPTEMBER 10: Apple Senior Vice President of Worldwide Marketing at Phil Schiller speaks about the new iPhone 5S during an Apple product announcement at the Apple campus on September 10, 2013 in Cupertino, California. The company launched two new iPhone models that will run iOS 7. The 5C is made from a hard-coated polycarbonate and comes in five colors. The 5S comes in three colors and contains an A7 chip. (Photo by Justin Sullivan/Getty Images)

  • Apple Introduces New Two New iPhone Models At Product Launch

    CUPERTINO, CA - SEPTEMBER 10: Apple Senior Vice President of Worldwide Marketing at Phil Schiller speaks about the new iPhone 5S during an Apple product announcement at the Apple campus on September 10, 2013 in Cupertino, California. The company launched two new iPhone models that will run iOS 7. The 5C is made from a hard-coated polycarbonate and comes in five colors. The 5S comes in three colors and contains an A7 chip. (Photo by Justin Sullivan/Getty Images)

  • Apple Expected To Introduce New iPhone At Product Launch

    CUPERTINO, CA - SEPTEMBER 10: Apple Senior Vice President of Worldwide Marketing Phil Schiller speaks about security features of the new iPhone 5S during an Apple product announcement at the Apple campus on September 10, 2013 in Cupertino, California. The company launched two new iPhone models that will run iOS 7. The 5C is made from a hard-coated polycarbonate and comes in five colors. The 5S features a fingerprint sensor, has an upgraded camera, and contains an A7 chip (Photo by Justin Sullivan/Getty Images)

  • Apple Expected To Introduce New iPhone At Product Launch

    CUPERTINO, CA - SEPTEMBER 10: Apple Senior Vice President of Worldwide Marketing Phil Schiller speaks about security features of the new iPhone 5S during an Apple product announcement at the Apple campus on September 10, 2013 in Cupertino, California. The company launched two new iPhone models that will run iOS 7. The 5C is made from a hard-coated polycarbonate and comes in five colors. The 5S features a fingerprint sensor, has an upgraded camera, and contains an A7 chip (Photo by Justin Sullivan/Getty Images)

  • Apple Expected To Introduce New iPhone At Product Launch

    CUPERTINO, CA - SEPTEMBER 10: Apple Senior Vice President of Worldwide Marketing Phil Schiller speaks about security features of the new iPhone 5S during an Apple product announcement at the Apple campus on September 10, 2013 in Cupertino, California. The company launched two new iPhone models that will run iOS 7. The 5C is made from a hard-coated polycarbonate and comes in five colors. The 5S features a fingerprint sensor, has an upgraded camera, and contains an A7 chip (Photo by Justin Sullivan/Getty Images)

  • Phil Schiller, Apple's senior vice president of worldwide product marketing, speaks on stage during the introduction of the new iPhone 5c in Cupertino, Calif., Tuesday, Sept. 10, 2013. (AP Photo/Marcio Jose Sanchez)

  • Phil Schiller, Apple's senior vice president of worldwide product marketing, speaks on stage during the introduction of the new iPhone 5c in Cupertino, Calif., Tuesday, Sept. 10, 2013. (AP Photo/Marcio Jose Sanchez)

  • Phil Schiller, Apple's senior vice president of worldwide product marketing, speaks on stage during the introduction of the new iPhone 5c in Cupertino, Calif., Tuesday, Sept. 10, 2013. (AP Photo/Marcio Jose Sanchez)

  • Phil Schiller, Apple's senior vice president of worldwide product marketing, speaks on stage during the introduction of the new iPhone 5s in Cupertino, Calif., Tuesday, Sept. 10, 2013. (AP Photo/Marcio Jose Sanchez)

  • Phil Schiller, Apple's senior vice president of worldwide product marketing, speaks on stage during the introduction of the new iPhone 5s in Cupertino, Calif., Tuesday, Sept. 10, 2013. (AP Photo/Marcio Jose Sanchez)

  • Phil Schiller, Apple's senior vice president of worldwide product marketing, speaks on stage about the camera quality during the introduction of the new iPhone 5s in Cupertino, Calif., Tuesday, Sept. 10, 2013. (AP Photo/Marcio Jose Sanchez)

  • Donald Mustard, CEO of Epic Games, speaks on stage during the introduction of the new iPhone 5s in Cupertino, Calif., Tuesday, Sept. 10, 2013. (AP Photo/Marcio Jose Sanchez)

  • Apple Expected To Introduce New iPhone At Product Launch

    CUPERTINO, CA - SEPTEMBER 10: Apple Senior Vice President of Worldwide Marketing at Phil Schiller speaks about the new iPhone 5S during an Apple product announcement at the Apple campus on September 10, 2013 in Cupertino, California. The company launched two new iPhone models that will run iOS 7. The 5C is made from a hard-coated polycarbonate and comes in five colors. The 5S comes in three colors and contains an A7 chip. (Photo by Justin Sullivan/Getty Images)

  • Apple Expected To Introduce New iPhone At Product Launch

    CUPERTINO, CA - SEPTEMBER 10: Apple Senior Vice President of Worldwide Marketing at Phil Schiller speaks about the new iPhone 5S during an Apple product announcement at the Apple campus on September 10, 2013 in Cupertino, California. The company launched two new iPhone models that will run iOS 7. The 5C is made from a hard-coated polycarbonate and comes in five colors. The 5S comes in three colors and contains an A7 chip. (Photo by Justin Sullivan/Getty Images)

  • Apple Expected To Introduce New iPhone At Product Launch

    CUPERTINO, CA - SEPTEMBER 10: Apple Senior Vice President of Worldwide Marketing at Phil Schiller speaks about the new iPhone 5S during an Apple product announcement at the Apple campus on September 10, 2013 in Cupertino, California. The company launched two new iPhone models that will run iOS 7. The 5C is made from a hard-coated polycarbonate and comes in five colors. The 5S comes in three colors and contains an A7 chip. (Photo by Justin Sullivan/Getty Images)

  • Apple Expected To Introduce New iPhone At Product Launch

    CUPERTINO, CA - SEPTEMBER 10: Apple Senior Vice President of Worldwide Marketing at Phil Schiller speaks about the new iPhone 5C during an Apple product announcement at the Apple campus on September 10, 2013 in Cupertino, California. The company launched the new iPhone 5C model that will run iOS 7 is made from hard-coated polycarbonate and comes in various colors. (Photo by Justin Sullivan/Getty Images)

  • Apple Expected To Introduce New iPhone At Product Launch

    CUPERTINO, CA - SEPTEMBER 10: Apple Senior Vice President of Worldwide Marketing at Phil Schiller speaks about the new iPhone 5C during an Apple product announcement at the Apple campus on September 10, 2013 in Cupertino, California. The company launched the new iPhone 5C model that will run iOS 7 is made from hard-coated polycarbonate and comes in various colors. (Photo by Justin Sullivan/Getty Images)

  • Apple Expected To Introduce New iPhone At Product Launch

    CUPERTINO, CA - SEPTEMBER 10: Apple Senior Vice President of Worldwide Marketing at Phil Schiller speaks about the new iPhone 5C during an Apple product announcement at the Apple campus on September 10, 2013 in Cupertino, California. The company launched the new iPhone 5C model that will run iOS 7 is made from hard-coated polycarbonate and comes in various colors. (Photo by Justin Sullivan/Getty Images)

  • Apple Expected To Introduce New iPhone At Product Launch

    CUPERTINO, CA - SEPTEMBER 10: Apple Senior Vice President of Worldwide Marketing at Phil Schiller speaks about the new iPhone 5C during an Apple product announcement at the Apple campus on September 10, 2013 in Cupertino, California. The company launched the new iPhone 5C model that will run iOS 7 is made from hard-coated polycarbonate and comes in various colors. (Photo by Justin Sullivan/Getty Images)

  • Apple Expected To Introduce New iPhone At Product Launch

    CUPERTINO, CA - SEPTEMBER 10: Apple Senior Vice President of Software Engineering Craig Federighi speaks about iOS 7 on stage during an Apple product announcement at the Apple campus on September 10, 2013 in Cupertino, California. The company is expected to launch at least one new iPhone model. (Photo by Justin Sullivan/Getty Images)

  • Apple Expected To Introduce New iPhone At Product Launch

    CUPERTINO, CA - SEPTEMBER 10: Apple Senior Vice President of Software Engineering Craig Federighi speaks about iOS 7 on stage during an Apple product announcement at the Apple campus on September 10, 2013 in Cupertino, California. The company is expected to launch at least one new iPhone model. (Photo by Justin Sullivan/Getty Images)

  • Apple Expected To Introduce New iPhone At Product Launch

    CUPERTINO, CA - SEPTEMBER 10: Apple Senior Vice President of Software Engineering Craig Federighi speaks about iOS 7 on stage during an Apple product announcement at the Apple campus on September 10, 2013 in Cupertino, California. The company is expected to launch at least one new iPhone model. (Photo by Justin Sullivan/Getty Images)

  • Apple Expected To Introduce New iPhone At Product Launch

    CUPERTINO, CA - SEPTEMBER 10: Apple Senior Vice President of Software Engineering Craig Federighi speaks about iOS 7 on stage during an Apple product announcement at the Apple campus on September 10, 2013 in Cupertino, California. The company is expected to launch at least one new iPhone model. (Photo by Justin Sullivan/Getty Images)

  • Apple Expected To Introduce New iPhone At Product Launch

    CUPERTINO, CA - SEPTEMBER 10: Apple Senior Vice President of Software Engineering Craig Federighi speaks about iOS 7 on stage during an Apple product announcement at the Apple campus on September 10, 2013 in Cupertino, California. The company is expected to launch at least one new iPhone model. (Photo by Justin Sullivan/Getty Images)

  • Apple Expected To Introduce New iPhone At Product Launch

    CUPERTINO, CA - SEPTEMBER 10: Apple CEO Tim Cook speaks on stage during an Apple product announcement at the Apple campus on September 10, 2013 in Cupertino, California. The company is expected to launch at least one new iPhone model. (Photo by Justin Sullivan/Getty Images)

  • Apple Expected To Introduce New iPhone At Product Launch

    CUPERTINO, CA - SEPTEMBER 10: Apple CEO Tim Cook speaks on stage during an Apple product announcement at the Apple campus on September 10, 2013 in Cupertino, California. The company is expected to launch at least one new iPhone model. (Photo by Justin Sullivan/Getty Images)

  • Apple Expected To Introduce New iPhone At Product Launch

    CUPERTINO, CA - SEPTEMBER 10: Apple CEO Tim Cook speaks on stage during an Apple product announcement at the Apple campus on September 10, 2013 in Cupertino, California. The company is expected to launch at least one new iPhone model. (Photo by Justin Sullivan/Getty Images)

  • Members of the media and Apple employees wait outside Apple headquarters before a new product announcement on Tuesday, Sept. 10, 2013, in Cupertino, Calif. (AP Photo/Marcio Jose Sanchez)

  • An unidentified Apple employee, in yellow, waits to assist members of the media before a new product announcement at Apple headquarters on Tuesday, Sept. 10, 2013, in Cupertino, Calif. (AP Photo/Marcio Jose Sanchez)

  • iPhone Event

  • A journalist takes a photo of Apple's new plastic iPhone during a media event held in Beijing, China, Wednesday, Sept. 11, 2013. For the first time since introducing the device that has reshaped technology and culture, Apple will offer two distinct versions of its latest iPhones - a cheaper model made of colorful plastic and another one that aims to be "the gold standard of smartphones" with a faster processor, fancier camera and fingerprint scanner for better security. (AP Photo/Ng Han Guan)

  • A journalist takes pictures of the new plastic iPhones during a media event held in Beijing, China, Wednesday, Sept. 11, 2013. For the first time since introducing the device that has reshaped technology and culture, Apple will offer two distinct versions of its latest iPhones - a cheaper model made of colorful plastic and another one that aims to be "the gold standard of smartphones" with a faster processor, fancier camera and fingerprint scanner for better security. (AP Photo/Ng Han Guan)

  • Members of the media review the new iPhone 5c during a new product announcement at Apple headquarters on Tuesday, Sept. 10, 2013, in Cupertino, Calif. Apple’s latest iPhones will come in a bevy of colors and two distinct designs, one made of plastic and the other that aims to be “the gold standard of smartphones” and reads your fingerprint.(AP Photo/Marcio Jose Sanchez)

  • Members of the media review the new iPhone 5c and 5s during a new product announcement at Apple headquarters on Tuesday, Sept. 10, 2013, in Cupertino, Calif. Apple’s latest iPhones will come in a bevy of colors and two distinct designs, one made of plastic and the other that aims to be “the gold standard of smartphones” and reads your fingerprint.(AP Photo/Marcio Jose Sanchez)

  • Members of the media review the new iPhone 5c during a new product announcement at Apple headquarters on Tuesday, Sept. 10, 2013, in Cupertino, Calif. Apple’s latest iPhones will come in a bevy of colors and two distinct designs, one made of plastic and the other that aims to be “the gold standard of smartphones” and reads your fingerprint.(AP Photo/Marcio Jose Sanchez)

  • Members of the media review the new iPhone 5c and 5s during a new product announcement at Apple headquarters on Tuesday, Sept. 10, 2013, in Cupertino, Calif. Apple’s latest iPhones will come in a bevy of colors and two distinct designs, one made of plastic and the other that aims to be “the gold standard of smartphones” and reads your fingerprint.(AP Photo/Marcio Jose Sanchez)

The key features include:

  • 4-inch 'Retina' display
  • A6 processor (iPhone 5-grade)
  • Higher-capacity battery
  • 8-megapixel camera
  • Better low-light iSight camera
  • Supports LTE 4G
  • $99 (16GB) and199 (32GB) with a two-year contract
  • A range of colourful cases with circular cut-outs (29)

"These iPhones are packed with remarkable tech," said Tim Cook. "But we've done it in a way that makes it matter to people, making things easier. We don't just pack in feature after feature."

Other news from the event included:

  • iWork is now free for all new iOS devices. The suite of productivity apps includes presentation software Keynote, the desktop publishing app Pages, spreadsheet Numbers, iPhoto and iMovie.
  • Infinity Blade 3 from Epic Games will be released - with a 64-bit version specially made for the iPhone 5S

Apple also announced that iOS 7, its new version of the mobile operating system which powers iPads, iPhones and iPod Touch devices, will be released on 18 September, and will be free for the iPhone 4 and above, iPad 2 and above, the iPad Mini and the fifth generation iPod Touch.

It said that the OS had been fine-tuned since its initial unveiling earlier this year, and said that 700 million devices running iOS 7 will have been sold by the end of September.

Some small updates to the OS which were not previously announced include a bunch of new 'techno-inspired' ringtones.

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Here are instructions from Quartz on how to download Apple's latest operating system iOS 7:

Don’t download iOS 7 today. You’re not a developer. If you were a developer, you’d already know how to download Apple’s newest mobile OS and you’d be making bank by building apps.

Read more from Quartz here:

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From HuffPostBiz's Mark Gongloff:

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If you want the latest on Apple's announcements straight from the company itself, click over to Apple's news release center. There are press releases on the iPhone 5S, 5C and more.

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From New York Magazine:

A handful of device makers have tried to make fingerprint-authentication happen for people who aren't shuffling around millions of dollars every day. And they've been greeted with a unified meh. Ordinary users, it seems, would rather type in a passcode than fiddle with a fingerprint scanner, even if it means their information is more easily accessed by people who aren't them.

Read more from NYMag here.

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Apple announced that iTunes Radio will be available with iOS 7. From HuffPostTech:

Apple announced that its latest operating system iOS7 will include a livestreaming music service called Apple Radio, at its press conference Tuesday.

The service, which was announced in June, is expected to compete directly with Pandora, Spotify and others by providing users with custom stations created based on their music preferences, the ability to purchase a song they're listening to and more.

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HuffPostTech Tim Stenovec reports that famed singer Elvis Costello is at Apple's press event. Cool?

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From HuffPostTech:

The iPhone 5S will be the same size as its predecessor, the iPhone 5, with a 4-inch screen. Big screens are all the rage these days, and Apple is rumored to be working on phones with larger screens, but physically, the iPhone 5S looks very similar to last year's model.

The phone includes Apple's new A7 64-bit chip, and Apple describes the 5S as the "world's first and only smartphone" with a 64-bit chip. Phil Schiller, announcing the new phone, described the device's CPU and graphics as twice as fast in speed as the iPhone 5. The chip also packs a series of other performance and graphics enhancements. In addition to the A7, the phone includes the M7 motion coprocessor. The M7 "continuously measures motion data," and includes the phone's accelerometer, gyroscope and compass.

Read more here:

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Via Wired:

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The iPhone 5C is available for pre-order staring on Friday Sept. 13. Both phones will go on sale starting Sept. 20.

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Here's the difference in price between the two models launched today:

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From Yahoo! Tech:

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Here's a photo of Apple execs introducing the Apple 5S, via HuffPostTech's Tim Stenovec who is Cupertino.

5s

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Here's more info on the iPhone 5C via HuffPostTech:

The iPhone 5C is the first of its kind, coming a variety of bright colors rather than just white and black. It's casing is made of plastic, rather than the high-strength metal that protects its more expensive cousin, the iPhone 5S, which was also shown to the public in Cupertino. The 5C will be available in white, blue, green, rose and yellow.

"The entire back and sides are made from a single part," Phil Schiller, Apple's senior vice president of worldwide marketing, said at Tuesday's event. There are no seams, and the casing is made of polycarbonate reinforced with steel, and is described as "solid" and "dense" feeling.

Read more here:

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Check out this photo:

Comes in gold, silver and space grey.

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The iPhone 5C, dubbed the "cheaper iPhone" before its release is "unapologetically plastic," Apple exec Jony Ive told the crowd.

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Look!

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And here it is..

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Via NYTimes tech columnist David Pogue:

But let's be honest, we're all just waiting for the new iPhone.

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The new operating system will include an improved Siri and more:

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Now Apple execs are talking about the features of Apple's latest operating system iOS7, which the company announced at its last event in June.

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From MarketWatch:

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