Well, this comes as a surprise to no one – Apple just announced the iPhone 5C. It's the more affordable of the two iPhones that will debut today. It's exactly the same device we saw in the numerous leaks.
Here come the specs – a 4" Retina display with the same resolution (640 x 1136 pixels), Apple A6 chipset (same as iPhone 5) running iOS 7, 8MP camera, 100Mbps LTE connectivity, Wi-Fi a/b/g/n, Bluetooth 4.0… we've yet to hear about any differences, body aside.

There will be colorful cases for $30 too..
iPhone 5C confirmed, in green, yellow, blue, white and pink
• 4-inch retina, 8MP camera, A6 processor
• US 2-year contract price $99 16GB, $199 32GB
• iPhone 5S confirmed in black, silver and gold
source: GSM ARENA