The Apple event is still going on and the iPhone 5C has just gone official, its has the same innards as the iPhone 5 but with a plastic body, The iPhone 5C will be available in Blue, White, Pink, Yellow, and Green colors upon launch for $99 for 16GB, $199 for 32GB model on a 2 year contract.
In terms of specs it features the same A6 processor, 4-inch Retina display, 8MP 5 element lens primary camera with front facing Facetime HD camera alongwith Bluetooth 4.0 and Wi-Fi. You can also get soft rubber cases for the iPhone 5C which will cost you another $29.
