Apple Insider posted a story that Apple unveiled the new iPhone 5

Pricing will be identical to previous years, with the 16-gigabyte model available for $199 with a new two-year contract, a 32-gigabyte model for $299, and 64-gigabyte for $399. Preorders will begin this Friday, Sept. 14, and it will launch in the U.S., Canada, U.K., Germany, France, Australia, Japan, Hong Kong and Singapore.

All of the native applications in iOS have been updated to take advantage of the new, larger display. Apple marketing chief Phil Schiller showed off how Calendar shows off a full five-day workweek, and how the iWork suite has been updated to use the expanded real estate.

Old applications will run letterboxed on the larger screen, with black borders on either side centering the application, allowing for what Schiller called "pixel-perfect" rendering. He said that developers will be able to quickly and easily updated their applications to take advantage of the new display.

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