Apple unveils redesigned iPhone 5 - 4 inch display, 18% thinner, LTE and more

Apple's newly unveiled iPhone 5 is the thinnest smartphone on the market and the lightest iPhone yet, all while packing in a taller 4-inch Retina display and high-speed 4G LTE connectivity.

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. The touch panel has also been integrated into the Retina display, allowing the screen to be even thinner and sharper, and produce less glare in sunlight. Schiller said the new screen has 44 percent better color saturation, with full sRGB rendering.