The details on the new iPhone 5 from Apple were announced Wednesday, and the sixth model in the series, is taller, thinner and lighter than the iPhone 4S, according to Apple Senior Vice President Phil Shiller in an article by CBS News.

"It's an absolute jewel," Shiller said.

The iPhone 5 will have a 4-inch display, allowing for five rows of apps, according to CNET.

CBS reported that the biggest updates to the phone, though, are the camera and iSight. The camera will be smaller, have an 8-megapixel sensor and will be able to take panoramic photos. Additionally, video would be in 1080p HD, with 720p in the front-facing camera.

The iPhone 5 will be available in stores Sept. 21, reported CNET, and the prices run the same as its previous version of the 4S: $199 for a 16 Gb version, $299 for the 32 Gb and $399 for 64 Gb.

Will you be one of those waiting in the expected long lines at Newtown-area phone retailers for the next generation of the iPhone? Tell us in comments.