iPhone 5 Features: With 4G LTE And A $199 Price Tag, It's Hard To Beat

Today marks the one week anniversary of the iPhone 5 launch. Exactly seven days ago, millions of people worldwide got their hands on the most anticipated and hyped consumer electronics gadget of all time.  If you've been wondering whether to pick up Apple's new handset, or just plain wondering what it's all about, here's the rundown on the iPhone 5. 

Carriers AT&T, Verizon, and Sprint all offer the 4G LTE iPhone 5 starting at $199 for the 16GB model with a standard two-year contract. The price jumps to $299 and $399 for the 32GB and 64GB models respectively. Unlocked versions of the iPhone 5 should be out in the coming weeks, according to Apple, and will be $649, $749, and $849 for the 16GB, 32GB, and 64GB models. Apple offers the iPhone 5 in both black and white.

The most glaring feature is that the iPhone 5 is bigger. Apple increased the Retina display to 4 inches (up from 3.5 inches) to make the phone larger. This allows for 16:9 viewing, and despite the taller screen size, Apple still kept the iPhone 5 just as wide as previous installments so that it is easily usable with one hand, according to Apple. The handset is also the thinnest and lightest iPhone yet, and is even thinner than the sleek Samsung Galaxy S3. 

The smartphone comes equipped with an 8-megapixel rear-facing camera and a 1.2-megapixel front-facing camera for FaceTime HD. The iPhone 5 also introduces the new 'Lightning' dock, a smaller 9-pin connector than the previous Apple 30-pin standard. While initial reports feared this would render most existing iAccessories obsolete, Apple does offer a Lightning to 30-pin adapter for purchase. 

The iPhone 5 will come with Apple's new iOS 6 right out of the box. Apple claims the new operating system has over 200 new features, including Facebook integration, an improved Siri and their own in-house maps app. Sadly, it looks like the new Apple Maps and Siri are both a flop, but hopefully Apple can quickly fix that with a quick update. 

Starting at $199, it's hard to find a more solid smartphone to buy. If you're an Android user you might consider the Samsung Galaxy S3, the HTC One X, or even Samsung's upcoming Galaxy Note 2. But if you're not, and you can stand waiting a little (Apple's online store currently states a 3-4 week shipping period), then the iPhone 5 is a solid purchase, and great watercooler material.