Apple unveils two new iPhones, starting at $99

Apple unveiled two new iPhones on Tuesday in its bid to expand its share of the smartphone market, including an iPhone 5C as low as $99 with a US carrier contract.

"The business has become so large that this year we are going to replace the iPhone 5 and we are going to replace it with two new designs," Apple chief Tim Cook announced at the company's Silicon Valley headquarters.