Apple’s iPhone lineup is the most popular smartphone line on the planet but Android’s overall volume lead continues to grow, thanks in large part to dirt-cheap smartphones selling in droves in emerging markets. While Apple has no plans to do battle in the sub-$100 price range, of course, the company on Tuesday unveiled the brand new iPhone 5C in an effort to stir up some excitement at the mid-range price level. The 16GB iPhone 5C will cost $99 with a two-year carrier service agreement while the 32GB 5C will cost $199 with a two-year contract. Without a contract, the 16GB iPhone 5C will sell for $550 and the 32GB 5C will sell for $650.

In line with countless leaks and rumors, the new iPhone 5C is basically an iPhone 5 wrapped in a colorful new plastic housing. But unlike the iPhone 5, which starts at $650 before subsidies, the iPhone 5C is far more attainable for consumers in emerging markets and those who aren’t looking to spend top dollar for a smartphone but still want something fresh and new.