Could this new round of price cuts mean that there is an iPhone 5S (or an iPhone 6) just round the corner? That does look like it given that Carphone Warehouse has just cut the price of the Apple iPhone 5 smartphone to a mere £449.95 (that's the SIM free price), which is even cheaper than buying the device from Apple or on PAYG at Carphone Warehouse.
Bear in mind that this SIM Free model will lock to the network of the first SIM card used. The device was launched last year but faced even greater competition this year, especially from Samsung which appears to be settling for a two-flagships-per-year cycle (with the Galaxy S series and the Galaxy Note family).
The iPhone 5 still remains a very capable device nine months after it was launched. It features a 4in Retina display (with an 1,136 x 640 pixel resolution), 4G LTE, a dual-core A6 system-on-chip, an 8-megapixel iSight camera, iOS6 (with iOS7 coming up fairly soon), Bluetooth, Wi-Fi, up to eight hours battery life and 16GB onboard storage. Check out our review of the Apple iPhone 5 smartphone here.