Now we know what the iPhone 5C costs. Apple pulled the wraps of the iPhone 5C on Tuesday, which will cost $99 with a two-year contract in the U.S. A 32GB model will sell for $200. The phone, which has been consistently pondered as a “low-cost” phone or “mid-tier” option leading up to this event, might be the former but isn’t exactly the latter. It is “unapologetically plastic,” not aluminum or glass-backed. It has Apple’s standard 8-megapixel camera. And it will, of course, run on iOS 7, Apple’s newest mobile operating system — which older models can upgrade to, as well. But it has a 4-inch retina display, an Apple A6 chip, console-level graphics and a slightly bigger battery than the iPhone 5. And, as widely expected, the phone will come in different colors: Blue, white, pink, yellow and green. But by lowering the cost of the iPhone, Apple could “invigorate growth where it’s been limited.”