With imminent release of iPhone 5, many consumers can hardly wait to get their hands on the new smartphone of Apple.

All eyes are on Apple's every move. Some analysts claimed that iPhone sales could reach between 10 to 12 million this month upon release.he new device could lead to Apple's immense growth in the stock market later this year and early next year.

There are a few things that you should consider if you plan to purchase the new generation of iPhone. Below are some of the things you need to take into consideration in order to pick the best iPhone 5 plan:

1. Price - One of the major considerations in buying a new smartphone is its price range. There were rumors before that the iPhone 5 will be around $800 that may be a little pricey. However, some carriers offer affordable rates that come with their data plans.

2. Network Speed - Another important thing to consider is the network speed and coverage of your carrier. Whether you are an avid internet user on your mobile phone or love talking to your friends; does your network capable of bringing you your need for speed?

With all the amazing features that the new iPhone will introduce tomorrow, it is best that you know if you will be able to enjoy those features as supported by your network. In Australia, Telstra and Optus are the networks offering 4G connection.

3. 4G/LTE Connectivity - One of the main selling points of the iPhone 5 is 4G/LTE connectivity. However, it is still unclear if this feature will be available in other countries aside from the US. If so, it is important to know if your carrier supports such connection for you to be able to enjoy the incredible speed.

4. Call Quality - Being a smartphone, calls should be clear whether it is a voice or a video call. Does your carrier have a good track record on this aspect? You would not want your calls to be cut off, especially when you are in the middle of talking to someone important.

5. Termination Fees - The cost of leaving a contract early can top $350, depending on the carrier, what kind of phone you have and how many months are left on the clock. It is important to choose a pan where you can get out off easily when you are unhappy with the service.

The media event of iPhone 5 is set on September 12. The device is speculated to go on sale on September 21. For Australia, it is still unclear when Aussies can start pre-ordering the devices and which carriers will offer the latest iPhone.