Check out this offer from TheOrder; the online retailer, which is also selling an LG Optimus 4X HD for £249, has the 32GB Apple iPhone 5 (either in white or black) for £549, significantly less than the official SRP of £599.

There are a few pitfalls though. The phone comes with 11 months warranty, not the usual 12. It is locked to O2 as well (which means that in theory it should work on Tesco Mobile and Giff Gaff) and has been returned unopened and unused by the customer (and therefore qualifying as being as new). Plus you won’t be able to have free engraving.

Confusingly, TheOrder also says that the phone will work with any SIM card including Three, which would infer that the phone is unlocked. However, it’s worth noting that Apple iPhone 5 smartphones will automatically and permanently get locked on the first network they’re connected to.

The smartphone was released in September last year and already there are rumours that Apple will launch an iPhone 5S handset, disrupting its quasi-official annual product life cycle.

The phone no longer uses a glass back and has a bigger 4-in display that eschews its original 3:2 aspect ratio for a 16:9 one. Check out our review of the Apple iPhone 5 smartphone here