iPhone 5: What's New

NEW YORK (TheStreet) -- Apple (AAPL) unveiled its iPhone 5 on Wednesday to much fanfare, ending months of speculation.

There had been speculation over what Apple would call the new iPhone until the company accidentally leaked the name of the new device earlier Wednesday in search terms on its Web site.

Even still, there are several new features which are sure to get tech pundits and consumers excited about the new phone, which is available Friday for pre-order. It will officially go on sale Sept. 21.

"It's an incredibly quick start," said Phil Schiller, the company's senior vice president of marketing. "This will be our fastest phone rollout ever."

Apple iPhone 5: Live-Blog Recap

Here's a list of the iPhone 5's most important new features:

What It Looks Like

The iPhone 5 has a bigger 4-inch screen (up from 3.5-inches), has a 16 x 9 aspect ratio, is a svelte 7.6 millimeters thick and weighs just 112 grams. As Apple tries to pack more features into a thinner device, it integrated the touch sensors integrated into the display itself, making the display 30% thinner than the previous version.

With the larger screen, there are now five rows of apps instead of the traditional four, and users can see the 326 pixels per inch, giving the iPhone 5 a 1136 x 640 resolution. In addition, the color saturation on the screen is 44% greater than the iPhone 4S.

The device also comes with Retina Display and runs on 4G or Long Term Evolution (LTE) networks from AT&T (T) , Verizon (VZ) , and Sprint (S) . The speed on the LTE networks is super fast, running at 100 megabits per second.