How much is the iPhone 7 and will the iPhone 6 and 6s price drop after Apple launch?

Apple is gearing up to launch its next-generation iPhone at an event in California later today. If the online rumour mill is anything to go by, this year it will almost certainly be the iPhone 7 that's revealed.

There should be two iPhone 7 models announced at the launch event later today - the iPhone 7 and iPhone 7 Plus - and as with the iPhone 6 and 6S, they'll both come with different storage options.

iPhone 7 pricing

First off, there's talk that Apple will kill of the 16GB model, meaning the price of the cheapest (32GB) SIM free iPhone 7 could be slightly more expensive than the iPhone 6S when it launched last year - what with it being double the capacity of last year's iPhone 6S entry model.

If Apple sticks to its normal pattern, the iPhone 7 will start at £539 in the UK - that's the same price as the 32GB iPhone 6s

From there, the next two internal storage sizes will increase the iPhone 7 price: 64GB should be £619, while the 128GB would be £699.

256GB iPhone 7 price

As well as slashing the 16GB model this year, Apple is expected to introduce a new 256GB model for the first time.

It's likely Apple will decide to charge a premium for this new configuration. If it follows the same pattern in pricing, this could set you back a whopping £779.

Rumours also suggest that if we see a 256GB model, Apple will not bother with a 64GB model, offering just three storage options - 32GB, 128GB or 256GB.

iPhone 7 Plus price

The larger iPhone 7 Plus will be even more of a wallet buster than it's smaller sibling.

If rumours are true, the cheapest (32GB) iPhone 7 Plus will likely cost around £679, followed by a 128GB model at £769, and then a 256GB variant costing an astonishing £879.

iPhone 6 and 6S price after launch

The good news for those not wanting to splash out hundreds for a brand new smartphone is that Apple is likely to slash the price of its iPhone 6S models after the launch of the iPhone 7.

Traditionally, Apple has taken around £100 off its previous generation smartphones, so it's very possible that the iPhone 6s will be available from around £450, with the iPhone 6 being discontinued.

Also note that all the UK networks will be offering contract deals shortly after the iPhone 7 announcement, so keep your eyes peeled for that.

 How much is the iPhone 7 and will the iPhone 6 and 6s price drop after Apple launch?