Apple will start taking orders for the phone Friday and begin shipments Sept. 21 in the U.S., Canada, Britain, France, Germany, Australia and Japan, and said it would be available in 100 countries by the end of the year. Pricing for U.S. customers will start at $199.
Features Apple's A6 Processor
The new device features Apple's own new A6 processor, which according to Schiller doubles the speed for loading Web graphics.
He also said the phone would address consumer complaints by extending battery life, to eight hours use with mobile phone and browsing and 10 hours if Wi-Fi connections are used.
The iPhone 5 includes an improved camera with "new dynamic low-light mode," and "a precision lens alignment," Schiller noted.
Apple has also installed its own mapping software, upgraded its voice-activated assistant known as Siri and incorporated Facebook in the iOS software.
Analysts are Upbeat in Predictions
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.
"This iPhone 5 will turn out to be Apple's biggest home run yet. This will be the biggest and most successful Apple iPhone launch so far," independent analyst Jeff Kagan said.
Morgan Stanley analyst Katy Huberty said it is possible Apple may ship between 48 million and 53 million iPhones in the fourth quarter and "up to 266 million" in 2013.
She said the company could sell eight to 10 million in the third quarter, or in just the opening days it becomes available.
