After months of speculation, Tim Cook and Co. took to a stage in California and unveiled the next Apple iPhone. 

Dubbed the iPhone 5, the phone more-or-less carries the same design as the 4 and 4S, only it's taller and sports a bigger, four-inch display capable of true widescreen 16:9 aspect ratios.. It's also has a faster A6 processor, and has a better camera capable of taking panoramic photos. Not only that, it's 20% lighter and 18% thinner than the iPhone 4S, and will come with Apple's next mobile operating system, iOS 6, pre-installed.

The press conference is still in progress. As soon as it's over we'll give you a full run down of everything you need to knew about Apple's newest smartphone.

UPDATE: HERE'S EVERYTHING YOU NEED TO KNOW ABOUT THE IPHONE 5

[via The Verge]