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iPhone 5 Price, Release Date Announced: New iPhone Starts At $199, Arrives In U.S. On September 21

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Apple has finally unveiled the iPhone 5, and the new iPhone's hardware looks a whole lot like the old iPhone's hardware.

Turns out their pricetags are similar, too.

Just like the iPhone 4S when it first launched, the iPhone 5 will cost $199 for a 16GB version of the phone, $299 for a 32GB version and $399 for a 64GB version. Those prices all apply to users purchasing phones together with a two-year contract with one of the iPhone's three U.S. carriers (AT&T, Sprint and Verizon).

The phone will go on sale in nine countries -- the U.S., U.K, Canada, France, Germany, Australia, Japan, Hong Kong and Singapore -- on September 21 (precisely the day Apple blogs had predicted the phone would hit shelves).

Apple will begin accepting pre-orders for the new iPhone on September 14 and has already set up a landing page for the device on its online store.

As usual, the launch of a new iPhone is going hand-in-hand with a discount in the price of an old one. Apple is knocking $100 off the price of the 16GB iPhone 4S, which will retail for $99 rather than $199, with a two-year contract. The 16GB iPhone 4 will be given away for free when customers sign contracts with mobile carriers.

For more on what Apple just announced, check out our rundown of everything Apple unveiled, browse our gallery of gorgeous iPhone 5 photos and then take a look at our big news page for full coverage of the event.

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