The "C" in the iPhone 5C, which Apple unveiled on Tuesday, supposedly stood for "cheap" and "China." But now we know it won't be all that cheap in China — if you buy it out of contract, at least.
Apple's online store has already revealed the price of the iPhone 5C in China ahead of its launch event there, which takes place at 10 p.m. ET on Tuesday. It's a cool 4,488 yuan (about $733). In the United States, an unlocked 5C will set you back $549, or $99 for the 16GB model with a contract.
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That works out to be a little cheaper than the iPhone 5 unlocked in China, which costs the equivalent of $865. But by no means is it the game-changing price some analysts expected. Apple has a mere 5% share of the smartphone market in China.
We're still waiting to see how much the iPhone 5C will cost in the world's largest market if you buy it with a mobile contract. Apple can't afford to make it seem too expensive. The market for smartphones in China will more than double to 450.5 million people by 2017, according to research company Canalys.
Image: Nina Frazier, Mashable
Philip W. Schiller, senior vice president of worldwide marketing at Apple, reveals the iPhone 5C.
The new phone comes in five colors.