The Cupertino-based tech giant Apple released the much-awaited sixth generation iPhone, dubbed iPhone 5, at its press event on Sept. 12 with Apple CEO Tim Cook taking centerstage to announce the arrival of the new device.

Rumors were flying thick and fast not just about the next-gen iPhone's specs and designs but also its accessories like ear phones and cases. With Apple official launching the next-gen smartphone, iFans have much to look forward to.

Here's a round-up of the specs and features of the iPhone 5.

Display
As rumored the iPhone 5 sports a bigger 4-inch Retina display with 1136 x 640 resolution at 326 ppi, and the Multi-Touch IPS technology screen has a "Fingerprint-resistant oleophobic coating."

The updated display will now accommodate five rows of icons. Apple has updated its own software to the new resolution and screen size. The new iPhone 5 features in-cell touchscreen technology which integrates the touch sensors right into the display itself.

Weight, Dimensions, and Body
At first glance, the iPhone 5 looks like a longer and thinner iPhone 4S but measuring 7.6mm (0.30 inch) in thickness and 112 grams (3.95 ounces) in weight, it is actually the thinnest and lightest iPhone ever. The iPhone 5 is 18 percent thinner and 20 per cent lighter when compared to its previous iteration, which makes the next-gen iPhone 5 the thinnest and lightest iPhone the company has ever produced. The iPhone 5 is entirely made out of glass and aluminum.

Processor and Microphone
The iPhone 5 features an upgraded Apple A6 SoC processor, which the company suggests will double the CPU performance. The smartphone includes three microphones to support HD voice. The headphone jack has been repositioned to the bottom of the device.

Dock Connector
Apple bid farewell to the old dock connector and introduced the all-new 'Lightning' dock connector which is 80 percent smaller than the traditional 30-pin cable. The new dock connector in the iPhone 5 is an 8-pin all-digital plug, which has a reversible design and improved durability. Apple confirmed that the company is working with accessory manufacturers to include the new connector and provide a 'Lightning' to 30-pin adapter for older iAccessories.

Camera
Catching up with competition is the sapphire crystal lens camera on the smartphone, which has been improved and is 25 per cent smaller but with better features. The iPhone 5 will sport an 8-megapixel rear-facing iSight camera with Autofocus and LED flash. An f/2.4 aperture and a hybrid IR filter will be present on the device, which includes a low light mode for improved snapping.

The new camera will offer 40 percent faster photo capture and has a backside illuminated sensor. Apple is also adding a Panorama mode and Face detection to its camera software. The new iPhone 5 camera will allow users to take still photos while recording video. A 1.2-megapixel front-facing FaceTime camera is also on-board, which allows users to take photos and HD video (720p) up to 30 frames per second.

Operating System and Apps
iPhone 5 will pack in the latest iOS 6. Apple's maps app is expected to replace Google Maps. iCloud syncing in iOS 6 will mean that users can match the Web browsing tabs on their Mac to Safari, and vice-versa. iPhone 5 will feature a Photostream sharing and some improvements to Siri are also on its way.

Connectivity and Battery
The device will have Wi Fi, 3G, and 4G LTE (region specific) connectivity. The iPhone 5 will have a built-in rechargeable lithium-ion battery. The talk time claimed will be 8 hours on 3G network.

Colors, Internal Storage, Pricing, and Availability
The iPhone 5 will come in black and white options and will be available in 16/32/64GB (no 124GB) versions priced at $199, $299, and $399, respectively. Pre-orders will commence on Sept. 14. The smartphone is expected to start shipping from Sept. 19 in the U.S. and Sept.21 in the UK.

What to Expect in the box?
Consumers will get an iPhone 5 handset along with all-new Apple EarPods with Remote and Mic. The box will also pack in a Lightning to USB cable, a USB Power Adapter, and documentation.