Apple has just unveiled its latest iPhone (or rather iPhones), but it has also clarified what will happen to older models of the smartphone.

The company has decided to discontinue its one-year-old iPhone 5. The news isn't too shocking: the iPhone 5c will soon satisfy the price point that the now-discounted iPhone 5 would have occupied. As for the aged iPhone 4, Apple has decided to discontinue it as well.

Read: iPhone 5c: Apple goes budget and brings back plastic

For those wondering about the two-year-old iPhone 4S, have no fear. Apple said it would still sell it on-contract; the 8GB version is free.

Pocket-lint is live from Apple's 2013 iPhone event. Stick to our Apple hub for the latest, where we'll bring you a hands-on of the new devices very soon.