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iPod Touch 16GB 5th Generation Model Price Set for $199

Apple announced a 16GB version of the 5th generation iPod Touch Thursday.

The company will begin offering this new entry level model soon and has priced it at $200. It undercuts the current 32GB and 64GB iPods, which normally cost $249 and $299. It is available in six colors including blue, red and white.

The 16GB version features most of the same specs and capabilities found on the other models, however, the Loop wrist strap for it is sold separately.

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Apple launched the 5th generation iPod Touch line back in October of 2012. It is based off the iPhone 5 model as it features a screen close to it in size. Apple expanded the line shortly after with a 16GB model that did not feature a rear camera. This new model comes with one and replaces that version.

The next-gen iPod Touch could feature a display size similar to the rumored iPhone 6 which is expected to come in both 4.7-inches and 5.5-inches.

The 5.5-inch model could be the only version to feature a 128GB model.

The Chinese website WeiFeng reports that Apple will not release the upcoming 4.7-inch version with that amount of internal memory. The site claims that this will add to the experience of the larger model by giving the phablet sized version plenty of space to store videos, music and photos.

Some of Apple's current iPad models can hold up to 128GB.

Other rumors point to the company releasing the 4.7-inch model in 32GB and 64GB variants eliminating the 16GB version altogether. This will differ from Apple's normal strategy of launching devices with three different memory capacities.

The iPhone 6 release date is expected to be sometime in September.

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