(Image source from: Apple to launch is faster and cheaper iPhones today)

Just yesterday, we tipped you on what to expect from Apple's latest offering. A day after the news went live, we have the big dope confirmed.

The makers of the revolutionary iPhone, Apple, is all set to release its brand new iPhones - the 5C and 5S - today.

Faster and cheaper,  that is the new mantra Apple seems to be riding on with its current offerings. In a bid to make itself more affordable to less wealthier nations, Apple has slashed the price of one of its iPhones.

The lower-cost model, the iPhone 5C (the C for color) will come with a plastic case and will have the same features as the now-discontinued iPhone 5. The fancier and pricier model, the iPhone 5S, will be made of aluminum and have a much faster processor and a fingerprint sensor for security, among other features. The iPhone 5S will cost $200  the iPhone 5C, costs $100 with a contract.

“But at full price without a contract, which is how many overseas carriers allow people to pay for phones, the iPhone 5C costs $550 — only $100 less than the iPhone 5S. That is far higher than the range of $300 to $400 that many analysts believed could help Apple against lower-cost competition,” writes the New York Times.

“I thought the 5C could come in at a lower price point to really drive more unit sales,” said Michael Walkley, a technology analyst for Canaccord Genuity, an investment bank.

Both iPhones will be available in the United States, Japan and China and other countries from September 20 onwards. It will be the first time Apple will release its phones globally.

AW: Suchorita Dutta