A budget iPhone is finally real, and here's their new plastic backed, color coated $100 option for a whole new generation of iPhone users.

Design

Like we said a while back, there won't be any surprises. The leakers were spot on. The iPhone 5C looks exactly how we thought it would be. It's got a subtly curved hard coated polycarbonate plastic back that comes in blue, green, white, yellow and red pink. Or salmon as some people have commented.

Each case is steel reinforced to help amplify the antenna and iOS 7 will automatically match the color of your iPhone 5C out of the box.

As Jony Ive puts it: “iPhone 5C is beautifully, unapologetically plastic.” Though, looking at their share price tanking isn't very unapologetic at all.

Anyway, it also comes with a series of hideous silicon rubber cases. And they look like cheese graters!

Guts

The iPhone 5C won't have anything new, and it's basically the iPhone 5 but in plastic. It's got the same brain and same camera and the only thing different is that its got more LTE bands than any other smartphone.

The iPhone 5C's front-facing HD camera is actually an improvement on the iPhone 5's, however. It's designed to function better in low-light conditions.

Price

The 16GB iPhone 5C will cost $100 with a two year contract, the 32GB model is $200. Off contract prices are way rougher: $550 and $650 respectively.

We'll have to wait for an update from our local carriers, should they have any early information on them too. The only redeeming part about this is really its colors. What do you think?