To buy, or not to buy a new iPhone 5? That is the questions iPhone 4S users may be facing in the coming weeks.

Apple revealed its newest smartphone on Wednesday during a media event in San Francisco, showing off a slender new device that retails at a starting price of $199.

The iPhone 5, as expected, trumps the company's previous phones in a few crucial areas. For example, the latest device is powered by a faster A6 processor and can make calls and download data over speedy 4G LTE networks. But is it really worth it to spring for an iPhone 5, especially if you already own an iPhone 4S?

To help with your decision, check out our gallery (below) to see 7 things the iPhone 5 has that its predecessor doesn't. Then let us know what you think: Do you plan on snatching up the latest Apple smartphone? Is it truly a "revolutionary" upgrade, or do you think it left something to be desired? Leave us a comment or tweet us your opinions at [@HuffPostTech].

Want to know how the iPhone 5 stacks up against Samsung's Galaxy S3 and Microsoft's Lumia 920? Check out our handy spec chart (here). Visit our big new page to view all our coverage of Apple's iPhone 5 event.

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• It Works On 4G LTE Networks

  At last, the iPhone will become a part of the LTE community, which means it will streams videos and downloads content at quicker speeds. <a href="http://www.pcmag.com/article2/0,2817,2409610,00.asp" target="_hplink">According to PC Mag</a>, LTE connectivity for the iPhone will be available through AT&T, Verizon, and Sprint in the United States.

• It's Slimmer, Taller And Sleeker

  The <a href="http://www.huffingtonpost.com/2011/10/04/new-iphone-4s-unveiled-at-apple-announcement_n_994462.html" target="_hplink">iPhone 4S</a> has a 3.5 inch display (measured diagonally) and weighs approximately 140 grams. The <a href="http://www.huffingtonpost.com/2012/09/12/iphone-5-features_n_1877637.html?utm_hp_ref=apple-september-event" target="_hplink">iPhone 5</a> boats a 4-inch display and, though taller than its predecessor, is 18 percent thinner (measuring 0.3mm) and 20 percent lighter (weighing 3.95 ounces), according to Philip Schiller, Apple's senior VP of worldwide marketing. The Retina display on the iPhone 5 now "offers 326 pixels per inch" and a resolution of 1,136x640, <a href="http://www.pcworld.com/article/262242/apple_announces_iphone_5.html" target="_hplink">according to CNET</a>. The back of the device also looks slightly different than that of the iPhone 4S: "<a href="http://www.apple.com/iphone/design/" target="_hplink">The same [aluminum] used in Apple notebooks</a>" covers much of the back of the iPhone 5. Glass is inlaid above and below the aluminum -- either white "ceramic glass" or black "pigmented glass," depending on which color iPhone you select.

• It Has Better Camera Features

  The <a href="http://www.huffingtonpost.com/2012/06/21/galaxy-s3-vs-iphone-4s_n_1615824.html" target="_hplink">iPhone 4S</a> had a VGA front-facing camera (which is less than one megapixel) and a eight-megapixel rear-facing camera with LED flash. The iPhone 5 brings some significant improvements to this department. <a href="http://venturebeat.com/2012/09/12/iphone-5-camera/" target="_hplink">According to Venture Beat</a>, Apple claims that the camera will take pictures 40 percent faster and will have the ability shoot in "panorama mode." You'll also be able to take photos while filming video -- there's improved video stabilization, too. But the iPhone 5's main camera will still be <a href="http://www.huffingtonpost.com/2012/09/12/iphone-5-features_n_1877637.html?utm_hp_ref=apple-september-event" target="_hplink">eight megapixels</a>.

• The Battery Life Is Longer

  Who dosen't want a smartphone with longer battery life? Apple promises the <a href="http://www.huffingtonpost.com/2012/09/12/iphone-5-features_n_1877637.html?utm_hp_ref=apple-september-event" target="_hplink">iPhone 5 </a>will last 225 hours on standby, and eight full hours while talking on the phone or surfing the web through 3G. The <a href="http://www.huffingtonpost.com/2012/06/21/galaxy-s3-vs-iphone-4s_n_1615824.html" target="_hplink">iPhone 4S</a> falls just a bit short of the above estimates, maintaining only 7 hours and 41 minutes of talk time, or 6 hours and 56 minutes of web browsing.

• Its Innards Are More Powerful

  The <a href="http://www.huffingtonpost.com/2011/10/04/new-iphone-4s-unveiled-at-apple-announcement_n_994462.html" target="_hplink">iPhone 4S</a> was built around Apple's A5 processor, while the <a href="http://www.huffingtonpost.com/2012/09/12/iphone-5-features_n_1877637.html?utm_hp_ref=apple-september-event" target="_hplink">iPhone 5</a> houses a slightly faster A6 processor. Apple claims this upgrade gives its latest device twice the computing power.

• It Comes With New Accessories

  The iPhone 5 steps away from the classic charger ports that have been in use for Apple products since 2003. Say goodbye to the 30-pin dock and hello to Lighting, a <a href="http://www.huffingtonpost.com/2012/09/12/iphone-connector-iphone-5-dock-charger-lightning_n_1878282.html?utm_hp_ref=technology" target="_hplink">reversible 8-pin connector</a> that's approximately 80 percent smaller than the previous charger port. The new smartphone will also be sold with <a href="http://www.huffingtonpost.com/2012/09/12/earpods-apple-new-earbuds-headphones_n_1878472.html?utm_hp_ref=technology" target="_hplink">EarPods</a>, Apple's latest (and supposedly more comfortable) version of earphones. Without purchasing an iPhone or iPod, these new buds retail for $29.99

• ...But It's Got A Heaftier Price Tag

  The iPhone 5 is priced on the same scale that the iPhone 4S was when it launched. Purchasing a two-year data contract from a participating wireless carrier will set iPhone 5 buyers back $199 for a 16GB model, $299 for a 32GB model or $399 for a 64GB model. Now that the iPhone 5 is official, the iPhone 4S is getting an attractive price cut. Apple will now sell the 16GB iPhone 4S for $99.