Apple seems to be on track to launch its line-up of iDevices for 2013. The company is expected to reveal a number of iDevices like the iPhone, iPads and more, and to start with, Apple has just launched a budget iPod touch.

The latest Apple is not called the budget iPod touch but it's called the iPod touch 16GB. Apple has priced the iPod touch 16GB at $229 and to achieve the cheap price point, the company had to make a few compromises to the device.

Firstly, the new iPod touch has only 16GB of internal storage when compared to the 32/64GB storage option of the original iPod touch. The array of anodized color options available on the original iPod touch is also missing from the 16GB version. The new iPod touch is available only in one color option - the two-toned black and silver.

The latest addition to the iPod family is also not equipped with a rear-facing iSight camera and it only has the front-facing FaceTime camera. The 16GB iPod touch also lacks the "iPod touch loop," a handling accessory which allows you to carry the device tied to your wrist.

At 4.86 x 2.31 x 0.24 inches, the iPod touch 16GB measures the same at its predecessor. However, the lack of iSight camera has slightly reduced the weight of the device to 3.04 ounces, when compared to the 3.10 ounces of the 32/64GB version of the iPod touch.

Other capabilities of the iPod touch 16GB remains the same when compared to the older version. The new iPod touch 16GB has the same battery as the 32/64GB version which gives up to 40 hours of audio playback and up to eight hours of video playback. The display remains at 4-inch and company has used the same A5 processor in all the devices.

The 32GB version of the iPod touch has a price tag of $299 and the 64GB version of the device is priced at $399. However, if you wish to save some money and are not bothered about color options, iSight camera and a larger storage space, then the iPod touch 16GB may be a good option for you.