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Apple expected to announce iPhone 5C, iPhone 5S today.

Apple Inc. is expected to unveil iPhone 5C, a cheaper version of its iconic phone available in several colors, alongside the latest high-end phone, widely referred to as the iPhone 5S, at an event Tuesday at its corporate campus in Cupertino, Calif.

With the iPhone 5S, Apple is trying to beat back rivals like Samsung Electronics Co. Ltd. and Huawei Technologies Co. Ltd. in markets like India and China, where it is fast losing ground.

The 5C phone would bring one of the industry’s costliest smartphones within reach of the masses in poorer emerging markets for the first time. Wall Street approves of the move to offer a more basic version of the device, although some investors warned initially it will dilute margins and potentially tarnish a brand that has been linked to premium users since its 2007 inception.,0,6919366.story

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