Contract price of Apple iPhone 5 smartphone reaches new lows

Getting an iPhone 5 smartphone is no longer as expensive as it used to be. Apple no longer seems to be adamant on keeping retailers in check and discouraging them to compete on pricing. This has led to some interesting monthly plans published over the last few months.

Vodafone for example offers (via Carphone Warehouse) 300 minutes, unlimited texts, 250MB data and 1GB Wi-Fi with BT Openzone ever month for £25 per month with a £49 outlay. That's a total cost of £649, which is not bad for a phone that still carries a suggested retail price of £529. In other words, you're paying £5 a month for the cost of the plan.

The Apple iPhone 5 swaps the iPhone 4/4S design for one that sheds the heavier-but-more-classier glass back for metal. There's also a bigger screen with a 1,136 x 640 pixel display, an 8-megapixel rear camera, a dual-core system-on-chip, the Apple A6, 16GB of onboard storage and a slew of improvements.

However, the competition out there is so intense that there are already rumours that Apple will come up with an iPhone 5S to catchup with its rivals' flagship models. Check out our review of the Apple iPhone 5 smartphone here.