09/12/2013 08:48 am ET Updated Jul 28, 2014

Apple's iPhone 5C Unlikely To Have Effect On Latin American Market

Apple's new iPhone 5C was supposed to be the iPhone 5 Cheap, that is, a markedly less expensive alternative that would lead Apple's charge into promising markets like China and Latin America.

But on Tuesday, investors and consumers were introduced to a phone markedly the same. The iPhone 5C was launched at a starting price of $99, for a 16GB version with a two-year contract, and $549 without a contract. Comparably, the oldest iPhone on the market, the 4S, is being sold for $450 without a contract. Not exactly a revolutionary difference in price.

Analysts had expected a phone in the $400 to $500 range.

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