Apple has officially launched the cheaper version of iPhone 5C with trimmed down storage of 8GB, but only in the U.K. through O2.

Though Apple has a strong hold over the high-end smartphone market, the company is trying hard to attain similar dominance in low-cost devices. The Cupertino tech giant relaunched the basic iPhone 4 in India in January to target budget-conscious customers. This latest attempt by the tech giant is a clear foray into the mid-range and low-end device market, which is widely dominated by Android smartphones from companies like Samsung, ZTE, Huawei and others. Apple officially launched the low-cost version of its not-so-successful iPhone 5C with trimmed down storage of 8GB.

The iPhone 5C 8GB variant is currently sold through O2 in the U.K. and Apple's European Online Stores for £429 (conversion rate - about $715) in unlocked SIM-free condition with all color options available. The price of the new iPhone 5C variant is £40 ($66) cheaper than the 16GB model. An earlier report from Engadget speculated the price of the iPhone 5C 8GB model to be at least £60 ($99) lesser than the 16GB variant.

O2 UK is selling the 4G-ready iPhone 5C 8GB model in different plans. They vary depending on the upfront cost, choice of minutes and data. With zero down payment, O2 customers can pick the iPhone 5C for £43 ($72) a month for 2 years and get Unlimited talk and text with 8GB data. If customers choose to pay £409 ($680) upfront, which is the device's cost set by O2, the monthly bill will reduce drastically to £28 ($47). Other plans can be found here.

According to a report from Mac Rumors, Apple also launched the discontinued 16GB version of iPad 4. Unlike the iPhone 5C 8GB model, the iPad 4 is available worldwide and retails in Apple's U.S. Online Store for $399. The reentry of iPad 4 16GB model resulted in Apple calling off its three-year-old iPad 2, the report added.