iPhone 5 release date rumors officially confirmed, specs, features, price and more about the new iPhone

Credit: Apple

The smartphone’s launch took place at the Yerba Buena Center for the Arts in San Francisco.

Credit: Apple

The release of the device confirmed the countless rumors that have circulated in the past month regarding its specs, including bigger 4-inch display, improved camera, thinner form factor and smaller 8-pin dock connector.

Credit: Apple

The displays have already started being shipped by Sharp.

Pre-orders for the new iPhone started on September 14th after midnight and took by surprise due to the huge number of customers pre-ordering the device.

Because Apple exhausted the stocks within an hour after opening, pre-order delivery date slipped to September 26 at Verizon ans “14-21 business days” at AT&T.

Prior to the iPhone 5 release date, leaked images appeared online.

Flickr user Michael Rou posted photos of the iPad mini and iPhone 5 cases and iMore published photos of what they claimed to be the basic design for the iPhone 5.

Materials for the 16GB iPhone 5 cost an estimated $167.50.

An analysis of the potential cost of the device’s components made by research firm UBM TechInsights found that materials for the 16GB iPhone 5 cost an estimated $167.50.

Verizon and Sprint announced that they allow simultaneous voice and data over LTE.

Together with AT&T, the two carriers confirmed their plans to provide FaceTime over cellular support in iOS 6.

T-Mobile is reportedly receiving Nano-SIMs for Apple’s latest iPhone and China Unicom announced that the new iPhone will arrive on the carrier within the next three months.

The full list of carriers offering LTE for iPhone 5 was announced during Apple’s live keynote.

Vice President Phil Schiller announced that the feature will be supported by over 20 carriers at the iPhone 5 launch, but didn’t mention US carriers.

Apple’s pricing for the iPhone 5 is similar to the one for the previous 4S. The iPhone 5 comes at $199 for a 16GB, $299 for 32GB and $399 for 64GB.

Credit: Apple

The company’s stock soared after the release of the iPhone on Wednesday. J.P. Morgan’s chief economist Michael Feroli has high hopes for handset and believes that it could boost the U.S.’s GDP growth rate by 0.25 to 0.5 points in the fourth quarter.

The iPhone 5 comes with 1GB of RAM, according to iFans and will be available in separate GSM and CDMA versions at the September 21 launch.

The all-new smaller dock connector named Lightning that equips the device and HDMI and VGA cables will be produced for the new port.

Credit: Apple

The iPhone 5 dock connector features an 8-signal design, adaptive interface and improved durability.

Credit: Apple

Credit: Apple

Apple has announced that HDMI and VGA cables will be produced for the new port design and “wideband audio” phone calls will be available in the iPhone 5.

Apple’s Senior VP Phil Schiller explained the company’s decision to not include NFC and wireless charging in an interview after the iPhone 5 launch.

InRumor has posted a list of the various iPhone 5 rumors that were confirmed at the launch.