The news everyone was waiting for today was the iPhone 5. And though Apple put on a good show and will no doubt sell millions of iPhone 5’s, not everyone who wants one can afford the high up-front cost of a new iPhone.

Luckily for them, Apple also today announced price drops for both the iPhone 4S and the iPhone 4. Customers looking to upgrade from iPhones even older than these models, or customers looking to jump into the Apple ecosystem on a budget, will certainly appreciate the price: free.

The iPhone 4, specifically will soon be free for customers who sign up for a two-year contract with a wireless carrier. The iPhone 4S, which most die-hard Apple fans will still have in their pockets for at least 9 more days, will only cost $99 with a two-year contract. The lower prices are sure to lure in customers looking to get their first smartphone.

One of the side effects of these lower prices is that the iPhone 3GS will no loger be sold. The 3GS is now a big part of Apple’s legacy, and was the pinnacle of the original iPhone design. It was also one of the last smartphones Apple released while still fully on top of the smartphone market in terms of hardware, and has now been relegated to dustbin of history. Apple has made it clear iPhone 3GS owners that they are living in the past, and that their thinner phones are the future.