Today, Apple CEO Tim Cook revealed two new types of iPhone 5 and Apple's next-gen operating system, iOS 7. The latter will release late in September for free.

The iPhone 5C will be a budget version of the standard iPhone, and will ship in green, yellow, blue, white and red colors. The iPhone 5C will come in a 16 GB form and a 32 GB form, meaning that there will be no 64 GB version available at launch. The two versions of the iPhone 5C will release for $99 and $199 respectively along with a two year contract, a solid deal for those looking for Apple quality on an Android budget. The 5C sports tech specs similar to those of the iPhone 5 base model, with an Appple A6 procesor and an 8-megapixel rear facing camera rounding out the package.

The iPhone 5S was also revealed today. This year's new version of the iPhone, the 5S will make sequential upgrades to last year's 5 in much the same way that the 4S marked a subtle yet strong improvement over the standard 4. The iPhone 5S will feature a new Apple A7 processor, an improved camera, and dual-LED flash for photos. It will ship in three different colors - space gray, silver, and gold. Finally, the redesigned Home button of the iPhone 5S will include a fingerprint scanner for ultimate security. The touch sensor will also serve as a password for apps, so no more having to enter that iTunes password at seemingly random intervals.