Apple Inc. (NASDAQ:AAPL) has just unveiled its low cost iPhone, the 5C. The device is aimed at those who want an iOS device but either can’t or won’t pay the high prices Apple charges for its flagship handset. And contrary to popular belief, the handset won’t have a plastic case.  It’s made of hard coated polycarbonate, which is different from the plastic case used by Samsung.

Apple iPHone 5c

Details and specs of the iPhone 5C

The 16 GB iPhone 5C will sell for $99 with a two-year contract, while the 32 GB model will sell for $199. Rather than being offered in five different colors, Apple will offer silicon rubber soft feeling cases in green, white, blue, pink or yellow. Those colored cases will be an additional $29.

The handset will feature a 4-inch Retina display and an 8-megapixel camera on the front. It will also have a 1.9-megapixel camera on the back and support more LTE brands than any other smartphone. Although Apple Inc. (NASDAQ:AAPL) has not yet made any announcement about new carrier deals, this could be an indication that the iPhone 5C will work on China Mobile’s network. Of course China Mobile is the world’s largest mobile carrier.

In addition, the iPhone 5C will have the A6 processor, which is the same one that’s found in the iPhone 5. The iPhone 5C will have a single piece for the back and sides and a single multi-touch screen on the front.

According to Apple management, the iPhone 5C is meant to invigorate older phones with the same internals. In terms of margins on this handset, they could impress if the device is a success. It doesn’t look like a handset that would cheapen the Apple brand.