The much-awaited iPhone 5C, touted to be the affordable version of the iPhone, has finally been revealed. However, much to the dismay of consumers, the "cheap" iPhone 5C price was far from what they expected and what they were led to believe. It turns out that the new iPhone 5C price is not that cheap after all.

Notably, some say the price for the 5C even soars higher in other countries compared to the U.S. To find out if there's truth to these rumors, here is a comparison of the iPhone 5C's price in the U.S., the United Kingdom, China and India.

In the U.S., Apple Inc.'s senior vice president of worldwide product marketing Phil Schiller announced that the iPhone 5C's price is set at $99 and $199 for the 16 and 32 GB models, respectively. Both will also come with a 2-year contract. However, if you don't want to be tied to a specific telecom provider, the iPhone 5C is also available without a carrier subsidy for $549.

Meanwhile, in the U.K., the cheaper version of the iPhone costs £469 and £549 for the 16 and 32GB models. The iPhone 5C price in the European country when converted to U.S. dollars is around $740 and $870.

As for China, the cheaper version of Apple's new smartphone also sells for a much higher price than in the U.S. CNET, citing Apple's Chinese Website, reported that the 16GB iPhone 5C version would sell for RMB 4,488 ($733) and the 32GB variant would sell for RMB 5,288 ($864). Both iPhone 5C prices are exclusive of a carrier contract.

Notably though, in the Asian country of India, consumers can purchase the phone at a cheaper rate when converted to dollars. According to the Economic Times India, the iPhone 5C is expected to sell for around INR 30,000-35,000 or around $470 to $549.