Apple's long-rumored low-cost iPhone is now official.
The Cupertino, Calif., tech giant said it will release a polycarbonate iPhone called the iPhone 5C that will be available for as low as $99 with a two-year contract, according to numerous reports.
The new iPhone model will be available in blue, gray, pink, yellow and green options.
Customers will be able to get the iPhone 5C with 16 GB of storage for $99 or 32 GB of storage for $199.
Apple will also sell colorful cases for the iPhone 5C that will cost $29.
No release date has been announced yet.
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