Apple held an event Wednesday, Sept. 12 for the unveiling of the iPhone 5. Despite CEO Timothy Cook’s attempts to keep the new product hidden from the market prior to the introduction, secrecy was unattainable. Due to blogs, such as the Apple Blog and MacRumors, product images and details were leaked onto the internet days, weeks and months before the event. 

Since 2007, when the original iPhone was introduced to the smartphone market, the various iPhone products have become a gold mine for Apple. Sales for last quarter alone reached up to about $16 billion, making up almost half of the company’s revenue. 

The original prediction for iPhone 5 revenue was $6 million, but due to the overload of presale orders, predictions have now changed to $9 or $10 million. In fact, the chief U.S. economist at JPMorgan Chase, Michael Feroli calculated that the iPhone 5 could add one-quarter to one-half of a percentage point to the annual growth rate of America’s gross domestic product for the upcoming quarter.

Most presale deliveries are scheduled for the end of September, but since demands have exceeded the supply, orders are backed up, and some are expected to have a delivery date of early October. 

So what is it that makes this smartphone so desirable? For one, it’s 18 percent thinner and 20 percent lighter than previous iPhones, not to mention that it has a larger screen, faster wireless 4G internet service and a more powerful memory chip. 

The iPhone screen size had never changed until the creation of the iPhone 5, which has increased from 3.5 inches diagonally to 4 inches. A larger canvas is meant for various activities, like reading books and watching movies, and makes web browsing easier. 

All the software is updated, and Apple promises that with each purchase customers will receive free personal setup service to help customize the device. 

“I’m mad because I just recently purchased the iPhone 4S, so I know I have to wait a little while for my upgrade, but as soon as I have one I’m definitely planning on buying the iPhone 5,” said business major Mary Cossu, a junior at UNCW. “I love the iPhone 4S, and I’m confident I’ll feel the same about the iPhone 5.”

The iPhone 5 comes in both black and white and is available as a 16 GB, 32 GB or 64 GB. A 16 GB starts at $199, a 32 GB at $299 and a 64 GB at $399 with new two year activation. 

Another change to the iPhone 5 is that Apple has removed the traditional 30-pin dock connector for connecting the iPhone to power cables or stereo docks. iPhone 5 users will need to purchase new adapters through Apple.

So far, AT&T claims that the iPhone 5 is the fastest selling iPhone ever, and Sprint, which is the smallest carrier of iPhones, noted that sales have met their intended expectations. With such strong sales this early in the game, Apple has set the bar high for competitors in the smartphone market such as Nokia and Motorola.

In hopes of getting ahead of the iPhone 5, Motorola released a new smartphone prior to Apple’s introduction. The Motorola Atrix 4g offers fingerprint security, has a maximum of 48GB, and includes video chat, HD movie-viewing capabilities and 4G internet service. 

Music professor Michael D’Angelo said his choice is always to go with an Apple product. He currently owns a MacBook Aluminum, an iPad 3 and an iPhone 4. As soon as his upgrade is available, he plans on upgrading to the iPhone 5. 

“I want one,” said D’Angelo. “Since I’m an Apple fan, I want everything they come out with on the market. Apple consistently updates products, but keeps it familiar for customers. Apple has always been looking ahead, always can guess what the new technology will be and they adapt to that. They predict what the future will be.”

Apple continuously sets the bar high, and each time they introduce a new product, the bar gets raised just that much higher. The iPhone 5 is currently available for purchase and can be bought on the Apple website or at Verizon Wireless, AT&T, Sprint, Best Buy, Radio Shack, Target and some Wal-Mart stores.