Why does the iPhone 5c exist?

Unlocked, its priced at $549 for the 16GB model and $649 for the 32GB model, which basically means that in most markets buyers will have to sell their kidneys to buy this.

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C is not for Cheap?

I’m curious to understand Apples reasoning behind the 5c – why introduce a worse phone that costs as much as its predecessor? Unlike most rumours, for instance herehere and here, before the event said, this surely cant be targeting emerging markets. The keynote and other promotional videos don’t give a clue. Maybe tomorrows event in China will shed more light on it.

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