iPhone 5 UK price announced and big price cut for iPhone 4

Apple has revealed the UK price for the iPhone 5 and reduced the price of older iPhones.

The iPhone 5 is finally, officially alive and Apple has also now revealed how many of your English pounds you'll have to shell out to own its latest superphone.

The basic iPhone 5 model starts at an eye-watering £529 -- which is the price-tag for the 16GB flavour of the phone.

Apple is also selling 32GB and 64GB versions of the iPhone 5. The 32GB iPhone 5 will set you back £599, while the top of the line 64GB version is being sold at £699.

If the prospect of shelling out at least half a grand on a phone has left you feeling like Tim Cook punched you right in the gut, there is some good news to soften the blow: Apple has cut the price of the two older iPhone models it's still selling.

Last year's iPhone 4S will now start at £449 for the 16GB model -- a price cut of £50 -- while the iPhone 4 has had its price slashed by more than £100. The 8GB iPhone 4 will now start at £319, a drop of £110, which was the price Apple was selling the iPhone 3GS at, its former budget iPhone.

Apple is finally retiring the venerable old iPhone 3GS but it's effectively made the iPhone 4 its new mid range phone by giving it a starter price-tag that will allow it to compete against a swathe of Android's midriff.

Of course buying the iPhone 5 -- or any iPhone -- SIM free at full price isn't the only way to get your hands on it: UK mobile operators will also be offering the iPhone 5 subsidised on contract.

The iPhone 5 is definitely coming to EE's new 4GEE network -- and both its Orange and T-Mobile brands are offering pre-order pages. But there's currently no word on contract prices yet. Three has also said it will be offering the iPhone 5 on contract.

We'll be updating this story once we know more on contract prices.

If you've got any existing iPhone accessories you want to keep using with the new iPhone 5, which has a smaller charger port, Apple is selling an adaptor. This Lightning to 30-pin adaptor costs £25.

Are you going to be buying the iPhone 5? Or would you rather save your half a grand to buy a car? Let me know your thoughts in the comments below or sound off on our Facebook page.

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