Apple iPhone 4S available from £26 per month

The cheapest contract price for the Apple iPhone 4S has dropped down to £26 a month over 24 months.

The offer, which is available through Mobiles.co.uk via O2's On & On plan, provides subscribers with 1GB of data including unlimited texts and emails.

That’s a total cost of ownership of only £624 for the next two years; by way of comparison, the handset alone costs £449 SIM-free.

Despite being launched more than a year ago, the iPhone 4S is still a better than capable handset with a distinctive glass and metal chassis and a design inherited from the iPhone 4. Inside, there’s an Apple A5 SoC featuring a dual-core CPU supported by PowerVR graphics.

Other features include 512MB of RAM, 16GB on-board storage, a 3.5in 960 x 640 pixel display, an 8-megapixel rear camera with full HD video capabilities, and of course Apple's charming personal assistant, Siri. in addition to iOS 6.

Indeed, the new iPhone 5 has improved only slightly on the iPhone 4S, which makes the latter an enticing purchase given the significant difference in contract prices.

Alternatively, Android smartphones are as cheap as chips with models like the LG Nexus 4, which has significantly superior hardware, available from as little as £239.