Apple is now selling an unlocked version of the iPhone 5, so those who don’t want to commit to a carrier contract can still get the popular device (in the U.S.). Of course, that comes at a significant price.

For one, it’s just GSM, so your network options are very limited.

“The unlocked iPhone only works on supported GSM networks, such as AT&T in the U.S.,” Apple says in the Apple Store. “When you travel internationally, you can also use a micro-SIM card for iPhone 4 and iPhone 4S or a nano-SIM card for iPhone 5 from a local GSM carrier. The unlocked iPhone will not work with CDMA carriers such as Verizon Wireless or Sprint.”

There is also a significant dollar price hike. The 16GB version is $649, the 32GB is $749, and the 64GB is $849. Each is available to ship in one week.

In other iPhone 5 news, Apple has set a release date for the device in China (as well as a release date for the iPad Mini and 4th-generation iPad). The Wi-Fi versions of the new iPads will be available in China on Friday, December 7, and the iPhone 5 will be available on Friday, December 14.

The company released the new 21.5-inch iMac in the U.S. today.