Apple officially announces iPhone 5: As you’ve no doubt heard, the big unveiling was today. Apple says iPhone 5 is thinner and lighter than the previous model, even though it has a bigger screen.

The iPhone 5 features a larger screen and weighs 112 grams, or about 4 ounces, which is 20% lighter than the iPhone 4S. It is also 18% thinner, Apple’s marketing chief Phil Schiller said. It has an improved A6 processor that is twice as fast as its predecessor, high-speed 4G LTE connectivity and a widescreen aspect ratio.

Apple has also improved the device’s battery life and updated both of its cameras, giving its front camera 720p HD video. The company also announced a smaller dock connector for the device and a new cable charger named Lightning that is 80% smaller than its predecessor.

Video: Apple’s CEO Tim Cook introduces iPhone 5 to a packed house. Credit: Associated Press