Apple Launches iPhone 5 Amid Much Fanfare

(Ping! Zine Web Tech Magazine) – Apple’s iPhone 5 finally arrived on Wednesday, capping off a year of much speculation as to what features the device would carry.

The Cupertino, California company unveiled the latest version of its smartphone at a press event in San Francisco. During the rollout, Apple Senior VP of Marketing Philip W. Schiller discussed tech specs.  New features introduced include a 4-inch display (that’s a .5 inch increase compared to previous versions) and a 16:9 screen aspect ratio, according to a report.

Other specifics include support for 4G LTE, a 22% smaller chip that provides faster speeds (Apple maintained that saving an image is 1.7x faster now). Designed from glass and aluminum, the new device is also quite a bit lighter than its predecessor, accounting for 112 grams. That sheds 20% of previous weight.

Software updates were also in the mix with Apple mostly adjusting them to accommodate the device’s larger display. Before today’s launch, Apple’s last iPhone was unveiled in October of 2011. Meanwhile, industry analysis speculate the smartphone release could have a big impact with consumers. Michael Feroli of JP Morgan recently noted that the release could cause GDP growth by $2.3 billion during the fourth quarter of this year.