The smartphone is only available in Australia, China and a number of European countries.
In Australia, the new model will cost customers $679 for an unlocked device, $60 less than the 16GB model and $190 cheaper than the 32GB model.
The appeal of the new model may be hampered by the price point, situated too close to the 16GB model. The size of the storage will also appeal to very few customers.
With the option to purchase an iPhone 4S, why would the budget-conscious customer consider a 8GB iPhone 5c? They could purchase an iPhone 4S with the same 8GB of storage for $150 less, at $529.