iPhone 5 needs no hard selling and is still one of the most popular smartphones available in the market today; however, with increasing competition in the smartphone space, the Apple offering has several challengers who are looking to pull the rug from underneath its feet.

Japan-based Sony recently launched its waterproof and dust resistant Xperia Z smartphone, which is making all the right noises and looks to throw the gauntlet to the iPhone 5.

Here are the specifications and features of both the Xperia Z and iPhone 5. Let's check out how the two smartphones stack up against each other.

Processor

The Sony Xperia Z features a 1.5GHz quad-core Qualcomm Snapdragon S4 Pro processor with Adreno 320 GPU.

"The Snapdragon S4 Pro processor is asynchronous, which means each core is powered up and down independently. So you get the precise amount of power when you need it, without wasting power when you don't," notes Sony.

On the other hand, the iPhone 5 features a dual-core A6 processor, which is clocked at 1.3GHz. Both the processors are good for the speed-driven devices.

Display

The Xperia Z sports a 5-inch full HD Reality Display (1920 x 1080 pixels) with Mobile BRAVIA Engine 2, which gives the "same quality you'd expect from a top quality HDTV." The iPhone 5, by contrast, sports a smaller 4-inch IPS LCD Retina display with just 1136 x 640 pixels resolution.

Moreover, the Xperia Z has a higher pixels density of 443 ppi when compared to the iPhone 5, which packs in only 326ppi.

Dimensions and Weight

The Xperia Z measures 5.47 x 2.79 x 0.31 inches and weighs 5.15 ounces, while the the iPhone 5 measures 4.87 x 2.31 x 0.30 inches and weighs 3.95 ounces, making the former taller, wider, thicker and heavier than the latter.

Storage

The Xperia Z will be available with 16GB of on-board storage, whereas the iPhone 5 is available in 16/32/64GB internal storage options. Unlike the iPhone 5, which does not have the option to expand the storage, the memory of Xperia Z can be expandable to a further 32GB using a microSD card.

Software

The Xperia Z comes pre-loaded with Android 4.1 Jelly Bean, but Sony indicated that the Xperia Z would soon be upgraded to Android 4.2 post release. The iPhone 5 comes with iOS 6 out of the box and with Apple rolling out iOS 6.1, the smartphone will get the update soon.

Battery

Apple has not officially released the battery size of the iPhone 5 but it has come to light that the smartphone includes a 1440mAh battery, which supports 8 hours of talk time and 225 hours of standby time.

On the other hand, the Xperia Z has a bigger 2330mAh battery that also packs in the Battery STAMINA mode, which saves unwanted battery drainage. The Xperia Z's battery supports up to 11 hours of talk time and 550 hours of standby time.

Camera

The Xperia Z packs in a 13-megapixel rear-facing camera. Sony touts that its primary Fast Capture camera with Exmor RS for mobile is capable of shooting HDR videos and razor sharp pictures. The Xperia Z also packs in a 2-megapixel front-facing camera. The iPhone 5 packs an 8-megapixel rear-facing iSight camera and a 1.2-megapixel front-facing camera,

Availability and Colors

The Xperia Z will release in Q1 2013, whereas the iPhone 5 was released in September 2012.

The Xperia Z will be available in three colors - black, white, and purple. On the other hand, the iPhone 5 is available only in black and white options.

The Xperia Z is equipped with the required hardware specifications and features required in a top-end smartphone. It will be interesting to see if Sony is able to grasp the attention of potential customers looking for a top-end smartphone, and if the waterproof and dust resistant Xperia Z can steal the iPhone 5's thunder.