IPhone 5 PHOTOS: Pictures Of Apple's New LTE Smartphone

Apple unveiled the highly anticipated iPhone 5 at an event in San Francisco on Wednesday.

The new iPhone, which is made of glass and aluminium, is the thinnest smartphone in the world , according to Phil Schiller, Apples senior vice president of Worldwide Marketing said when introducing the phone, according to Engadget's live blog.

It has a bigger screen but weighs 20 percent less and is 18 percent thinner than the iPhone 4S, Apple's previous handset.

"It is an absolute jewel," Schiller, Apples senior vice president of Worldwide Marketing said, according to The New York Times . "It is the most beautiful product we have ever made, bar none."

Other features include an 8-megapixel camera, LTE connectivity and a sapphire lens crystal cover , according to The Verge's live blog.

LOOK: iPhone 5:

Check out our rundown of everything Apple announced , browse our gallery of gorgeous iPhone 5 photos and then take a look at our big news page for full coverage of the event .