iPhone 5 unveiled with a bigger 4-inch screen, is slimmer than 4S

The new phone is made entirely of glass and aluminium. Apple calls it its thinnest and lightest yet.

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Apple's iPhone 5
Apple marketing head Phil Schiller unveiled the iPhone 5 in San Francisco.

After months of speculation, Apple finally launched the iPhone 5 on Wednesday.

The Cupertino-based company said this version of the iPhone is thinner and lighter than the previous model, even though it has a bigger screen. The technology giant also refreshed its iPod line and its iTunes music service.

Apple marketing head Phil Schiller unveiled the iPhone 5 in San Francisco.

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Schiller said the screen is 18 per cent thinner and 20 per cent lighter because of new technology that eliminates a separate touch-sensing layer in the screen.

iPhone 5

Weighing just 112 grams, Apple claims the phone battery of the iPhone 5 can last eight hours of LTE browsing.

As expected, the iPhone 5 will also come with the capability to connect to the fastest new wireless data networks - 4G LTE - both in the US and overseas.

The iPhone 5 comes with a faster A6 processor, which Apple claims will give twice its performance and graphics. Apple has updated its apps to fit the 1136x640 16:9 retina screen.

Weighing just 112 grams, Apple claims the phone battery can last eight hours of LTE browsing and 10 hours of video playback.

The camera resolution sees no improvement from 8 megapixels, but is 25 per cent smaller.

The phone comes with three microphones, so Siri should work better. And true to Internet rumours, the new iPhone comes with a new Lightning connector that can be inserted in either direction.

The new iPhone runs the Apple's latest version of iOS, iOS 6. Scott Forstall, senior VP of iOS, demonstrated features such as the mapping app and Passbook, which lets one store tickets for concerts as well as boarding passes. Another great improvement has been Siri. Now she's smart enough to make your dinner reservations and even update Facebook for you.