IMAGE: The iPhone 5 Officially Announced

Via Twitter / iansherr: The #iPhone 5, officially ….

via Media camps outside Apple’s Fifth Ave store as world awaits iPhone 5.

Apple’s Web store went offline early Wednesday morning, only hours before the company is set to kick off a media presentation at the Yerba Buena Center for the Arts in San Francisco, Calif. The company is widely expected to unveil the iPhone 5, a device with a larger 4-inch display and a redesigned exterior.

In New York City, Apple’s flagship Fifth Avenue store has already become a gathering place for media looking to report on the buzz surrounding today’s event. Inside the Fifth Avenue store, it’s business as usual thus far, with no signs yet of any new products potentially going on sale immediately.

Beyond the next iPhone, Apple is believed to be prepared to introduce a number of new products this fall. Perhaps the most anticipated among them, a new 7.85-inch tablet known colloquially as the “iPad mini,” is not expected to debut today. Instead, Apple is rumored to hold another media event in October to expand the iPad lineup.

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via How the iPhone 5 Stacks Up – Digits – WSJ.

Price: The iPhone 5 will start at $199 for a model with 16GB of storage and a two-year contract, the same starting price as its predecessor. The price on the iPhone 4S will drop to $99, with a contract. The new phone will be available starting Sept. 21 in the U.S.

Measurements: The new phone is thinner and longer than the iPhone 4S but weighs less. It weighs 112 grams, compared with 140 grams.

Screen: The new iPhone has a 4-inch screen, measured diagonally, compared with 3.5 inches for the 4S. That’s smaller than some of Samsung’s and Motorola MSI +0.78%’s newest Android phones. The screen has 326 pixels per inch, the same as the iPhone 4S, but because it is longer has 1136 by 640 resolution.