The previous version, the 4th Generation also came in a 32 GB option. This has been dropped. The new 16 GB iPod Touch costs £199 in the UK, which is the same price as the outgoing 4th Gen iPod Touch with twice as much storage at 32 GB. The new version is also only available one colour - a black facia with silver back. Previously the iPod Touch was very similar to the iPhone with white and black options or though they had a mirrored back as per previous versions too.
A comparison of the now discontinued iPod Touch 4th Generation and the current iPod Touch range, featuring the new 16 GB model, is shown below.