T-Mobile Will Start Selling The iPhone 5 On April 12 For $100 Without A Contract

The pricing structure is a bit different than most carriers though. You'll have to pay $99.99 up front plus an additional $20 monthly fee to pay off the phone over the next 24 months.

That means you're paying a total of $580 over two years for the iPhone 5 on T-Mobile.

If you decide to leave T-Mobile before the 24 months are up, you're still on the hook to pay off the phone.

On the other hand, you won't have to sign a two-year agreement to get the iPhone 5 at that price. You can leave T-Mobile or upgrade to a new phone whenever you want.

Finally, you'll have to pass a credit check to get T-Mobile's price on the iPhone 5.

T-Mobile is also launching its LTE network in a handful of cities: Baltimore, Houston, Kansas City, Las Vegas, Phoenix, San Jose, Calif., and Washington D.C. LTE is the fastest wireless data standard available today, and it's one of the key features on the iPhone 5.

You also get unlimited everything with your iPhone 5: data, voice, and text.

"We're thrilled with the relationship we started with Apple," said T-Mobile CEO John Legere at an event in New York announcing the iPhone 5 and new carrier plans.

The iPhone 5 on T-Mobile has some extra hardware features like the ability to run on other types of 4G networks called HSPA+. T-Mobile will also be the only carrier to offer HD voice on the iPhone 5. As the term implies, HD voice gives you clearer call quality.

The carrier will also sell the iPhone 4S for $69.99 up front, plus $15 per month for 24 months.

Pre-orders for the iPhone 5 on T-Mobile begin April 5.

T-Mobile also announced it'll sell HTC's One and the BlackBerry Z10 for $99.99 each without a contract. The Z10 is available today, and the HTC One should be available next month.