The burden of waiting and speculating is finally over as tech giant finally Apple pulled the curtains of the new smartphone - iPhone 5.

Apple unveiled its latest smartphone in San Francisco at the Yerba Buena Center for Arts, and has the entire tech world watching to see the next generation iPhone. Some of its amazing features are 4G/LTE connectivity, 4-inch screen display and new operating system.

This year, it seemed that the newest iPhone failed to impress the tech world. People missed the times when Apple used to surprise everyone with a bit of information that was not mentioned in the rumors circulating. Apparently, most rumors were proven true. The era has come when Apple can no longer keep a secret in the public.

Below are some of the things that we love in the launching event of iPhone 5.

Powerful Processor - The new iPhone 5 is equipped with s A6 chipset, which Apple claimed to be twice as fast as that of iPhone 4S's.

Bigger and Better Screen Display - The new iPhone finally let go of its prehistoric 3.5 inch screen and put a 4-inch screen display. The new screen has 1136 x 640 pixel resolution and 16:9 aspect ratio.

Longer Battery Life - Apple is promising strong battery life in the iPhone 5. The company claims it'll deliver 8 hours of 3G talk time and 8 hours of LTE browsing. On standby, the device will last 225 hours on a single charge, the company says.

Three Mics and New Noise Cancellation Technology - When we thought two mics are ok, Apple added another one and was able to eliminate unnecessary noise that hinder clear calls.

New iPod Touch - The fifth generation of iPod Touch will come with amazing specs and features such as Siri, an A5 processor, an upgraded 5MP rear camera, the new Lightning connector, Siri, and the iPhone 5′s 4-inch widescreen retina display.

Moreover, it will get you 40 hours of music playback and eight hours of video. You'll even be able to use it to power your home theatre, with built-in 1080p mirroring to your TV via AirPlay. The iPod Touch also got a makeover and will now come in five candy colors and sport a little knob for a wrist strap.

Great news from Apple is that the new iPhone 5 will offer the same storage variants, 16GB, 32GB, and 64GB, and come with identical pricing of $199 to $399, depending on storage needs.

Apple has decided to kill off the iPhone 3GS and cut the price of its iPhone 4 8GB device to free. The iPhone 4S will be available in its 16GB flavor for $99. iPhone 5 will be available for pre-order on September 14 and will hit the Apple Stores on September 21.