Anyone holding out for a Diwali iPhone launch is in luck - Apple has decided to launch the new iPhones on 1 November, just two days shy of Diwali this year.The prices however, are a fair bit higher than expectations and substantially higher than what the same, unlocked devices sell for in the US. The unlocked 16GB iPhone 5S that sells for about US$ 700 (post taxes) in the US will be priced at Rs 53,500 in India (US$ 862).The top-of-the-line 64GB version will be priced at Rs 71,500 (US$ 1153) – this device sells for about US$ 920 (post tax) in the US.Apple also announced a price reduction for the older iPhone 4S (a phone first launched in 2011) – like with the iPhone 4 before it, the 4S will now only be available in an 8GB version, priced at Rs 31,500. The new iPhones will now compete with other flagship smartphones from Samsung , Sony, LG and Nokia