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Cheap iPhone 4S replaces 8GB iPhone 4, yours for £349

Meanwhile, Apple has removed the iPhone 5 from sale, in favour of the new iPhone 5S.

Apple's giving its range of iPhone smart phones a shuffle, introducing a brand new 8GB iPhone 4S that now serves as the company's budget offering.

The 8GB iPhone 4S costs £349, and is out on 20 September in the UK. It replaces the 8GB iPhone 4 that was previously on sale.

Apple has removed the higher-capacity versions of the iPhone 4S from its online shop as well, leaving you only the 8GB option.

No more iPhone 5

The change-up also sees the iPhone 5 being thrown on the scrapheap, no longer available to buy from Apple -- just a year after its debut.

Instead you can now choose from the high-end £549 iPhone 5S, which comes in silver, gold and grey and has a fingerprint scanner alongside a new A7 processor, or the iPhone 5C, which starts at £469 and comes in range of colourful casings. 

Now playing: Watch this: iPhone 5S Touch ID fingerprint scanner demo

Tech speculators had hoped that the iPhone 5C would prove to be the cheapest iPhone that Apple had ever built, but 'twas not to be. Instead, as one analyst predicted, the iPhone 4S has now become the cheap iPhone for those shopping on a tighter budget.

Of course, bargain hunters can always shop around for a second-hand option if they want to pay less, and you might find there's a flood of old iPhone 5 models about to appear on eBay.

Let us know if you spot a decent price, and let me know if you'll be buying one of Apple's new iPhones in the comments, or on our Facebook wall.