The new iPhone has been announced, but it comes with a price tag of $200 for a 16GB model with a cellular plan.

One could see this as a major expense, and possibly not worth upgrading to.

Here is a list of the potential savings one could have by purchasing the iPhone 5.

The new features on the phone mean that some technology in life might become obsolete and unnecessary.

Related: New iPhone with taller screen unveiled at Apple event, in stores Sept. 21

Nintendo DSi XL

Savings: $149.29

Description: The new iPhone's A6 processor means it's twice as fast with both CPU and graphics. That makes for better gaming.

Total potential savings with iPhone

Canon PowerShot 8MP digital camera

Savings: $439.99

Description: The phone's new camera has a 8MP sensor, Dynamic low-light mode, precision lens alignment and a f/2.4 aperture. It also has spatial noise reduction, 40 percent faster photo capture and a panorama assist.

Total potential savings with iPhone

Toshiba Camileo X200 HD 1080p Camcorder

Savings: $229.99

Description: The 1080p video settings now have more stabilization and facial recognition. The front facing camera is now 720p.

Total potential savings with iPhone

Sennheiser PC 151 Binaural Headset

Savings: $52.10

Description: The iPhone 5 comes with new microphone-equipped headphones that cancel out noise on both sending and receiving ends. That means less money spent on noise canceling headsets with microphones.

Total potential savings with iPhone

Garmin Nuvi 5-inch portable GPS

Savings: $197.50

Description: Apple Maps, the newest navigation app on the iPhone 5, has turn-by-turn directions. This makes it easy to justify getting rid of that old Tom Tom with the funny voice.

Total potential savings with iPhone

Apple iPod Touch 16 GB

Savings: $297.95

Description: Of course the iPhone also acts as an MP3 player, which means buying or owning one is no longer necessary. There are also other altenatives to buying music, like Spotify and Pandora.

Total potential savings with iPhone

Coby 7-Inch 8GB HD Video Player with HDMI

Savings: $102.98

Description: With a larger screen, the new iPhone is better equipped for video viewing. Most portable video systems become unneccessary if you're wlling to give up on size.

Total potential savings with iPhone