Apple Unveils New IPhones at Cheaper Price

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Apple Inc. unveiled two new iPhones, including a cheaper $99 version in bright colors and an updated high-end device, in a strategy shift by Chief Executive Officer Tim Cook to reach a broader range of customers around the world.

A new iPhone known as the 5CBloomberg Terminal will start at $99 with a two-year contract and will come in five colors, Apple said today at an event at its headquarters in Cupertino, California. The high-end iPhone 5SBloomberg Terminal, which will be available in three colors including gold, will cost $199 to $399 with a contract. The phones will be available in stores Sept. 20.