iPhone buffs have something again to cheer about after the launch of revolutionary iPhone 5. Apple has announced recently that they would cut off prices of old iPhone models to make it affordable to most of users. The launch of iPhone 5 and immediate success have made the company to take this decision to popularize the iPhone market in midst of competition from other smartphone players.In India, the 8GB version of the iPhone 4S will be available at Rs. 41, 500 while the iPhone 4 8GB model is priced at Rs.28, 500. The company has heavily cut its prices, as iPhone 4 was earlier available in the market at 37,900 and iPhone 4S was priced tagged in the Indian market at 44,500. India, as a matter of fact is a big consumer cauldron and the company doesn’t miss the chance to lure the consumers.The cost of iPhone 3GS has already been reduced to a great extent with Aircel offerings. Apple is also about to launch its iconic iPhone 5 in the market. Though in grey market, it is already available in greater prices. The company anticipates launching the phone in Indian market in the festival season of Diwali, which is in the last week of October.The new Apple iPhone 5 has revolutionized the smartphone technology. The slick, light and faster phone is much ahead of its predecessor, boasting a 4 inch Retina display. It features an attractive design and packs a faster Apple A6 mobile processor.The phone also showcases new maps application with Apple-designed cartography. Indians are eager to get a glimpse of iPhone 5 in the market; however, the recent price drop in older models will surely lure a large user base to taste the technology of iPhone.