Internals

iPhone
 5 comes loaded with the A6 processor which is two times faster than the
 previous A5. The device speakers have shrunk down to 20%.
 
Wireless

Another
 amazing feature in the iPhone 5 is its support for the 4G LTE. 4G on 
the new iPhone supports upto 100Mbps. With 4G on the new iPhone, I’m 
sure the HD videos/audios will go on stream much faster than the 3G.
 
Wifi now has two bands: 2.4Ghz and 5 
Ghz, so I guess the Wifi will work much finer than the previous models, 
rest assured the signals stay there.
Camera

The
 new iPhone 5 comes loaded with a 28 megapixel iSight camera which can 
now shoot in panorama mode, enabling you to easily take picture of wide 
landscapes.
 
The front facing camera is also 
improved; now it can shoot at 720p. you can check out some of the photos
 taken from the iPhone 5′s camera 
here
 Battery

The battery has also been improved, and it can give upto 8 hours of battery life on 4G LTE.
 
Lightning Port

The iPhone 5 also has a new smaller dock connector, named Lightning by Apple.
 
The new Lightning dock connector 
features: 80% smaller than the previous 30-pin connector, an adaptive 
interface, more durable, and can be plugged in to the device in any 
orientation.

Accessories

With
 the introduction of new Lightning dock connector, all previous 
accessories don’t seem to work, but wait, Apple have solution for this –
 which is dock connector converter named Lightning to 30-pin Adapter – 
which will allow you to use your older accessories as well.
 
It is important to note that all older accessories are compatible with the iPhone 5, excluding cases and sleeves.
Also a new addition to the box is an all-new earphones called EarPods.
Nano-SIM

The iPhone 5 uses a new type of SIM card known as the 
Nano-SIM.
 So those users who have the skills to cut their normal SIM to a 
Micro-SIM will be disappointed to know that the Nano-SIM card is 
completely different for the Micro-SIM, and thus it cannot be made at 
home. So you’ll have to get a new SIM card from your carrier, which is 
compatible with the iPhone 5.
 
Price

Pricing
 is the same as for previous models. The 16GB, 32GB, and 64GB models 
cost $199, $299, and $399 respectively with a two-year contract from 
AT&T, Verizon or Sprint. The iPhone 5 will be available both Black 
and White colors.
 
Availability
The new iPhone 5′s pre-orders are 
scheduled to start on September 14th and will ship on September 21st. 
From September 14th the iPhone lovers in the following countries will be
 able to pre-order their brand new phone, these countries include: 
United States, Canada, UK, France, Germany, Australia, Japan, Hong Kong,
 Singapore. It will be launched in more countries on September 28th. And
 by December, it will be available in more than 100 countries around the
 globe.