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The iPhone 6 means lower prices for iPhone 5s and 5c

Apple's two new iPhones means there's been a price drop on last year's iPhone 5s and 5c, but with a reduced line-up of available models.

The new iPhone 6 and 6 Plus. Josh Miller/CNET

It's not uncommon for some people to hold off on buying an iPhone until after the newest models have been announced, hoping to take advantage of a price drop on the superseded phones.

Well, that's exactly what's happened in the wake of the iPhone 6 and 6 Plus launch . Apple has announced new pricing on the 5s and 5c, but interestingly, it's offer a reduced range of models in terms of storage size.

Firstly, say goodbye to the iPhone 4S which finally shuffled off this mortal coil. Say goodbye also to the 16GB and 32GB of the iPhone 5c -- Apple will only be keeping the 8GB model in the market.

And you can also bid a fond farewell to the 64GB iPhone 5s -- only the 16GB and 32GB remain on sale. This means that there are actually four distinct iPhone models available: the 5c, the 5s, the 6 and the 6 Plus.

It also means that anyone looking for 64GB of storage or above is immediately being pushed into the new range, which isn't really that surprising.

Here's the new Australian pricing on the three old models that are still being sold.

iPhone 5c (8GB)AU$679AU$529AU$150
iPhone 5s (16GB)AU$869AU$749AU$120
iPhone 5s (32GB)AU$999AU$799AU$200