Late Wednesday night, Apple discontinued the fourth generation iPod Touch which could be bought as the lowest model earlier this year. They now feature a new device that resembles the newer 5th generation model in many ways. It uses the new lightning connecter instead of thirty pin, contains a four inch retina screen similar to the iPhone 5 and new iPod Touch. It does however lack some big features such as a back facing camera, the loop strap feature, and the ablilty to customize it in any color other than black or white. The device will cost you $229 and only comes in the 16GB model because upgrading the memory will land you a full featured iPod Touch 5G.
For more details check out Apples web page