Apple has finally revealed the prices of its flagship smartphones, iPhone 5S and iPhone 5C, which will hit stores in India on November 1. While the 'cheaper' iPhone 5C will be available for Rs 41,900 for 16GB and Rs 53,500 for the 32GB variant, the iPhone 5S will retail at Rs 53,500 for 16GB variant, Rs 62,500 for 32 GB and Rs 71,500 for the 64GB variant.

A Business Today exclusive report on Monday had said the company was looking to price the iPhone 5C (16GB) at Rs 41,900 and iPhone 5S starting Rs 53,500. The press statement issued by Apple on Tuesday states the iPhone 5S will be available in gold, silver and space grey while the iPhone 5C will come in blue, green, pink, yellow and white.

Apple also disclosed the prices for the iPhone 5S and the iPhone 5C cases. The iPhone 5S cases will be available in beige, black, blue, brown, yellow and red for Rs 3,200 and the iPhone 5C cases will come in blue, green, pink, yellow, black and white for Rs 2,300.

There has so far been no communication about discontinuing the iPhone 5. The new price for the iPhone 4S 8GB model has been announced at Rs 31,500 even as the iPhone 4 is likely to be discontinued from November 1.