What Do You Think of the iPhone 5?

The wait is over for information on the new iPhone model, and the industry is a-buzz with the news.

Apple unveiled the iPhone 5 Wednesday, flaunting its larger, 4-inch display, faster network and lighter weight. 

Pre-orders begin Friday and the iPhone 5 will launch Sept. 21. The cost will be the same as the iPhone 4S, at $199 for a 16GB model, $299 for 32GB and $399 for 64GB.

The iPhone 5 weighs 112 grams, or about 4 ounces, which is 20 percent lighter than the previous model, the iPhone 4S. The screen is also half-an-inch larger and 18 percent thinner.

Some of the features of the iPhone 5 include:

• A 720p HD video camera
• High-speed 4G LTE internet connectivity
• An A6 processor, twice as fast as its predecessor
• Improved battery life
• Updates to Siri, including the ability to tell users sports scores and post status updates to Facebook
• A smaller connector dock and cable charger

Sales of the iPhone 4S and other models have dropped off in recent months, according to the LA Times, which analyts say suggests a "huge pent-up demand" for the iPhone 5. 

View pictures of the iPhone 5 and its accessories on CNET.

Will you be ditching your old phone for an iPhone 5? Why? Let us know in the comments below.