Behold, Apple's colorful new iPhone 5 replacement. The iPhone 5C is Apple's new colorful, polycarbonate-made iPhone with a 4-inch Retina display, 4G LTE support, an 8-megapixel back-facing camera, an improved FaceTime HD camera with larger 1.9u pixels and backside illumination all powered by an A6 processor. Yes, the iPhone 5C's internal hardware is basically an iPhone 5 covered with hard-coated polyarbonate. It's also cheaper, the iPhone 5C will be available in 16GB and 32GB storage capacities for $99 and $199, respectively - with a two-year contract.