iPhone 5 Prices (Photo : Reuters)

The iPhone 5 price in the USA will vary depending on whether you sign with or without contract with phone carriers Verizon, AT&T and Sprint.  The big apple event held today September 12, 2012, unveiled the iPhone 5 highly anticipated features and specs.  Pre-orders begin this Friday, Sept 14th, and the official release date is Sept. 21st.  

The lowest price with contract is $199 for the 16GB model, $299 for the 32GB, and $399 for the 64GB model.

So far, only nine countries have been confirmed to sell the iPhones including the U.S., U.K, Canada, France, Germany, Australia, Japan, Hong Kong and Singapore.

The pricing for the iPhone 4S 16GB will drop $199 to $99 when purchased with a two-year contract with a mobile carrier.  And its predecessor iPhone 4 will be free with a two-year contract to attract the Apple fans who can't afford the latest models.

Without a contract, the entry level iPhone 5 will cost $649.

Are you planning to purchase an iPhone 5 immediately or wait until your current contract ends?