Apple Inc. (NASDAQ:AAPL);s iPhone 5C, revealed yesterday, replaces the iPhone 5 in Apple’s handset roster, and is almost similar in features to the 5S, except for the fact that it has a plastic body and comes in varied colors. However, a report from TheRegister by Neil McAllister says the price is hardly “the rock-bottom,” that many were expecting for an entry-level phone.

Apple iPhone 5C

The author believes that the price of iPhone 5C may impact Apple’s expansion plans in emerging markets.

iPhone 5C almost similar to iPhone 5

Similar to the iPhone 5, the iPhone 5C is also based on Apple’s A6 SoC, however, whether or not there are any performance upgrades is still a mystery. Apple marketing head Phil Schiller did mention that the 5C has “console-level graphics” but what this means is also a mystery. The iPhone 5C will also be available in 16GB and 32GB while a 62 GB model has not been announced.

Specification wise, the device has a 4 inch Retina display with 1136-by-640 resolution at 326ppi. Brightness and contrast are similar to that of the previous model. The new version has a 8MP iSight camera and a 1.2MP FaceTime camera, with slight enhancements over the earlier version.

Overall, it can be said that the iPhone 5C is a plastic version of the iPhone 5, and the same is evident from the cost. With a two year contract, the price has been fixed at $99 for 16GB model and $199 for 32 GB version. The offered price is not significantly lower to what has been offered by many big retailers for the iPhone 5 lately.

According to Apple Inc. (NASDAQ:AAPL)’s website, the unlocked version without a contract is $549 for 16Gb and $649 for 32 GB.

iPhone 5C may not be a game changer for Apple

The pricing may seem reasonable for a modern smartphone, but for budget-conscious consumers the price may not evoke much interest. These users may prefer low-cost Android devices or even low-end Nokia Lumia handsets.

Apple Inc. (NASDAQ:AAPL) is discontinuing the sales of the old iPhone 5 while still keeping the 8GB iPhone 4S around, indicating that the Cupertino, California firm is now targeting the low end of the market. Apple Inc. (NASDAQ:AAPL) will now offer the iPhone 4S for free with a two-year contract. Despite all this, the iPhone 5C may not be the game changer we were thinking it could be.