Many Apple fanboys and basic handheld users alike are now eagerly awaiting their chance to pick up the newest iPhone, which Apple held a press conference Wednesday to address specifics.

iPhone 5, which will be available to purchase in the United States on September 21st, will start at $199 for the 16 gigabyte version, $299 for the 32 gigabyte model, and $399 for the 64 gigabyte model, follows the same pricing model as the iPhone 4S did at its launch.

The phone features a 4-inch screen, slightly larger than the 3.5-inch screen of its predecessors, and offers 4G wireless data network capability.

The iPhone 5 is slightly larger than the 4S, but is also thinner and lighter, weighing in at 112 grams, compared to the 140 grams of the 4S, according to the Wall Street Journal.

The iPhone 5 will also feature their new A6 microprocessor, which is reportedly twice as fast with processing and graphics, in addition to an 8-megapixel camera, similar to the one in the 4s, but offers increased options as low-light filters and panoramic mode.

As for the battery, Apple claims that it will last for a full eight hours of conversation on a 3G network, and 10 hours of browsing on a Wi-Fi network, very similar to the claims made regarding the 4S.

The iPhone 5 will be available for pre-order beginning on Friday, September 14th.

More specifics are available from The Wall Street Journal.