Highlighted features of iPhone 5:

Apple Introducing iPhone 5

All-new design. The thinnest, lightest, fastest iPhone ever

  • A6 chip
  • iOS 6
  • Height: 4.87 inches (123.8 mm)
  • Width: 2.31 inches (58.6 mm)
  • Depth: 0.30 inch (7.6 mm)
  • Weight: 3.95 ounces (112 grams)
  • Improved video stabilization
  • Take still photos while recording video
  • Face detection
  • Faster graphics
  • 4-inch (diagonal) Retina display
  • 1136-by-640 resolution
  • 326 ppi
  • Ultrafast Wireless
  • Lightning Connector
  • Better Battery Life:
  • Talk time up to 8 hours on 3G
  • Browsing time up to 10 hours on Wi-Fi
  • Standby time up to 225 hours

Breaking News: [source]
Apple Announces New Record Pre-Orders For iPhone 5:
2 Millions in 24 Hours, 2X iPhone 4S Sales in Day One