Apple is expected to reveal not one, but two new iPhones today during an invitation only event at Apple headquarters. One phone, expected to be called 'iPhone 5C' will be a more affordable, low cost model, while the other, expected to be called 'iPhone 5S' will be Apple's new flagship smartphone.

iPhone 5C

If you've ever wanted a brand new iPhone without premium prices the iPhone 5C may be the phone for you. When it comes to the iPhone 5C, the 'C' stands for color, as the affordable iPhone 5C will be available a many different colors. The iPhone 5C is expected to be Siriless and feature a plastic casing. Apple's scaled down iPhone 5C is also expected to have a slower processor and less memory than its 5S counterpart.

iPhone 5S

The iPhone 5S is Apple's newest top dog smartphone that has Apple fans salivating, but if you're expecting major innovations and flashy features you may be a bit disappointed. The 5S is rumored to look and operate exactly like its predecessor, the iPhone 5, with little to no changes to the phone's look, feel, or screen size. But while the 5s may look like the 5 on the outside, on the inside just about everything will be improved. Apple boasts the 5S will be 31% faster with 3xs the battery life. The 5s is also expected to have a better camera with improved flash.

The biggest change coming to the iPhone 5S is the fingerprint scanner rumored to be built into the phone's home button. Though Apple's been tightlipped about the fingerprint scanner, the feature is rumored to be Apple's response to quell phone theft.

Apple hopes the new 5S and 5C can regain some of the smart phone market share Apple has lost in recent years to competitors like Android and Windows phone.