Before today’s announcement of the iPhone 5, the iPhone 3GS was still in circulation as the entry-level iPhone; you could get it for free when you signed up for a new two-year contract with most North American providers. The iPhone 4 was the next rung up, with the smallest storage option costing just $99 on a new contract.

Today, as the iPhone 5 prepares to launch, everything is getting bumped one step forward. As announced during today’s keynote, the iPhone 4 will now be the freebie entry-level phone, and the smallest iPhone 4S will now be $99. As for the 3GS, it will finally bid adieu, as Apple stops production of the aging smartphone for good.

It was only a matter of time before the older devices disappeared, as their less powerful hardware limits what can be done software-wise. Many games and apps have already stopped support the 3G and 3GS, and more will surely follow now that it’s not in production. It could be bad news for existing 3GS owners, but they’ll be able to upgrade for even cheaper now, so it might be about that time for you holdouts.

iPhone owners: what version of the phone are you currently using, and when are you planning on upgrading? Will you be taking advantage of these new, cheaper 4 and 4S prices, or will you be switching to an Android or Windows phone? Let us know in the comments down below.