The iPhone 5 doesn't pretend to make any technology breakthroughs: Apart from being taller, at first glance it seems to preserve many of the exterior design elements of the iPhone 4S. Instead, Apple has continued to refine and improve a range of features that are intended to preserve the superior "user experience" that has made the iPhone the leading smartphone brand.

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The phone was unveiled in San Francisco, kicked off by Apple CEO Tim Cook at exactly 1 p.m. Eastern Daylight Time. The event also included announcements of a and a new crop of iPods, including a new iPod touch. The entire presentation was crisp, brisk and focused.

The new iPhone is 0.30 inches thick, 2.31 inches wide, and 4.87 inches tall, weighing 3.95 ounces. That compares to the 4S: 0.37 inches wide, 4.5 inches tall, 2.31 inches wide, weighing 4.9 ounces. Apple says the new phone is 12% smaller "volumetrically."