Apple CEO Tim Cook speaks during an Apple special event announcing the iPhone 5. Justin Sullivan/Getty Images/AFP

SAN FRANCISCO, Unites States - Apple on Wednesday introduced its new iPhone 5, a lighter, thinner and more powerful version of its iconic mobile device.

Apple chief executive Tim Cook called the launch "the biggest thing to happen to iPhone since the iPhone."

At a packed launch event in San Francisco, Apple marketing chief Phil Schiller said of the new iPhone: "It is an absolute jewel. The software and engineering that went into this product is the most challenging our team has ever taken on."

The introduction has been among the most keenly anticipated in the tech world, with rumors and leaks over several months about the new device from the biggest company in the sector.

"It is the thinnest iPhone we have ever made, it's the world's thinnest smartphone and weighs just 112 grams," just under four ounces, Schiller said.

"It is 20 percent lighter than the iPhone 4S."

Schiller said the new iPhone features a new design aimed to fit in one's hand and works on the faster mobile Internet networks known as LTE.

"When you carry your phone it should fit beautifully in your hand, that is just how we designed iPhone 5," he said.

"Everything you do looks gorgeous on this beautiful widescreen display."

Analysts expect Apple to sell tens of millions of the new iPhone in the coming months, luring in smartphone buyers who have been waiting to upgrade.

Here's a quick look at the iPhone 5's specifications:

Physique
7.6mm thin
18% thinner than the 4S
112 grams

Screen
4-inch retina display, 326 pixels per inch
1136 x 640, 16:9 aspect ratio

Connectivity
LTE
802.11n 5 Ghz built in for wifi, up to 150 mbps of speed.
HSPA+, DC-HSDPA

Processor
Dual-core A6 chip
2 times faster than 4S

Connector
New reversible connector called 'lightning'

Camera
8 megapixel sensor
New panorama feature
f/2.4 aperture

Audio
Earpiece has noise cancellation

Video
1080p HD
Improved video stabilization
Face detection
Take photos while recording

Pricing and availability

The new iPhone 5 unveiled by Apple will go on sale September 21 in the United States and six other countries.

Apple marketing chief Phil Schiller said pre-orders would begin Friday and shipments would start a week later in the United States, Canada, Britain, France, Germany, Australia and Japan.

Schiller said US pricing would be the same as for the prior version of the iPhone, starting at $199 and increasing to $399 with increased memory. - Agence-France Presse / Rappler.com