Apple has finally unleashed its hotly-anticipated smartphone goliath - the iPhone 5 - at the press event in San Francisco. The curtain has been raised and specs and designs of the iPhone 5 have now been revealed. With innumerable rumors surfacing over the last few months, iFans can now officially see what the iPhone 5 has to offer and whether the device lives up to the hype.

Display
All iPhone 5 predecessors featured a 3.5-inch display. Rumors indicated that the iPhone 5 will boast a bigger screen. Living up to the expectation, the new iPhone 5 sports a bigger 4-inch screen.

Rumors and leaks also alleged that Apple would be employing the in-cell panel technology. True to the rumors, Apple has used in-cell technology in the iPhone 5, which aids its slimmer design.

Design
Rumors suggested that the next-gen iPhone will be thinner and lighter when compared to the older iterations. The iPhone 5 measures 7.6mm (0.30 inch) in thickness and weighs 112 grams (3.95 ounces), which is 18 percent thinner and 20 percent lighter when compared to its previous iPhone iterations. The new weight and thickness of the iPhone 5 make the device the thinnest and lightest iPhone Apple has ever produced.

Processor
iPhone 4S included an 800MHz dual-core A5 processor. iFans expected that the new iPhone 5 will possess a faster processor. Apple announced the upgraded Apple's A6 SoC processor for the iPhone 5, which the company suggests will double the CPU performance of the device.

Dock Connector
Rumors had suggested that the next-gen iPhone would either have a 19-pin, 9-pin, or an 8-pin dock connector. The launch of the iPhone 5 has confirmed that the latest device will include an 8-pin "Lightning" connector, which is 80 percent smaller than the traditional 30-pin dock connector of the older iterations. The new dock connector is an all-digital plug and has a reversible design and improved durability.

SIM
Earlier this year, The European Telecommunication Standard Institute (ETSI) confirmed a new form factor (i.e., the 4FF), also known as the nano-SIM for mobile devices. Rumors abounded that the next-gen iPhone will have this nano-SIM which measures 2.3mm wide by 8.8mm high and 0.67mm thick. The official release of the iPhone 5 confirms that the device will use the nano-SIM and not the older micro-SIM.

Camera
It was anticipated that the iPhone 5 will likely sport an 8-megapixel rear-facing camera like its predecessor but with a f2.2 lens. Additionally, the iPhone 5 was rumored to pack in a 1.3-megapixel front-facing snapper. Rumors also indicated that the iPhone 5's camera may be 3D capable with an AirShare feature. However, the iPhone 5 sports an 8-megapixel rear-facing camera with an f/2.4 aperture lens and has a 1.2-megapixel front-facing camera.

Connectivity
iFans hoped that the iPhone 5 would support 4G LTE connectivity. Apple has announced that the new iPhone will have 4G LTE connectivity.

Operating System

The iPhone 4S packs the iOS5; however, iPhone 5 was anticipated to bundle the latest operating system iOS6. The recent announcement from Apple confirms that iOS6 will be deployed for the iPhone 5.

Apple enthusiasts would have liked the iPhone 5 to come in an array of vibrant colors with "the loop" in tow like its new iPod touch offering. However, the smartphone sticks to the staid black and white options.

iFans will be eagerly waiting to lay their hands on the iPhone 5. Time will tell if Apple has deployed its best in the iPhone 5 and lives up to iFans expectations.