The iPhone 5 Will Cost $200 and Release on September 21st, Pre-Orders Start September 14th

Apple just announced that the iPhone 5 is going to cost $200 and release on September 21st. Get ready because that's about a week and a half from now. If you want to be smart and skip the line though, you can pre-order the new iPhone starting on September 14th.

The iPhone 5 comes in the same 16GB/32GB/64GB white or black models as before for the same $200/$300/$400 under contract, respectively. And just like last year, AT&T, Verizon and Sprint will carry the iPhone 5 with T-Mobile still inexplicably on the outside looking in.

Not to be left out, last year's iPhone's 4S gets a price cut too. It'll now start at $100 and look like a pretty awesome phone for those not convinced in the elongated body of the iPhone 5. The iPhone 4 is completely free. [Gizmodo Live]