Just minutes ago Apple officially announced the new iPhone 5 in San Francisco. So what are the highlights? iPhone 5 is constructed of aluminum and glass, with a sapphire lens cover. The display, as expected, is 4-inches tall (guess early Reuters sources were correct). Measurements include 7.6 Depth (mm), 112 Weight (g), and 3.31 Volume (in³). iOS 6 will be released Sept. 16 with maps that include turn-by-turn directions. What’s more, the upgrade to iOS 6 will run on iPhone 3GS. The Apple iPhone 5 will available in 3 configurations: 16GB for $199, 32GB for $299 and 64GB for $399. The iPhone 5 will ship starting Sept. 21 to US, Canada, UK, France, Germany, and Australia. What will happen to previous iPhone models? The iPhone 4S will reduce to $99, and the iPhone 4 will be free, with service plans. Pre-orders for iPhone 5 start Sept. 14.