By Keerthi Chandrashekar | First Posted: Sep 21, 2012 06:08 PM EDT

Will you be buying the iPhone 5 from Verizon now that it can also work on AT&T's network? (Photo : Reuters)

After months of speculation and waiting, consumers can finally get their hands on the iPhone 5 today, September 21.  Despite the fact that the iPhone 5 may be (incredibly) hard to get, if you're wondering if it's worth your wallet, here's what Apple's latest handset  has to offer.

To begin with, the iPhone 5 is available through three of the four major national carriers in the United States. Sorry T-Mobile customers, but as of now, only  AT&T, Verizon and Sprint are all offering the iPhone 5. An unlocked iPhone 5 will be available in a few weeks for purchase. Unlocked iPhones work on T-Mobile's network, but keep in mind that they run on the slower bandwidths. 

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The iPhone 5 starts at $199 for the 16GB model. The 32GB model will cost $299, and the 64GB version of the phone will run you $399. These are all prices with a standard two-year contract. 
When it does release, the unlocked iPhone 5 will start at $649, and jump to $749 and $849 depending on the amount of storage you opt for. 

The iPhone 5 is the biggest redesign to the iPhone in a few years. Despite not being a radical overhaul, the phone will feature a larger 4-inch screen that will make the phone slightly taller, but not wider. Even though it is bigger, the iPhone 5 will be the thinnest and lightest iPhone ever, even surpassing the sleek Samsung Galaxy S3. 

It will also sport an 8-megapixel rear-facing camera and a 1.2 megapixel front-facing camera for FaceTime HD.

The new A6 processor inside will be running Apple's recently-released iOS 6 that boasts up to 200 new features, according to Apple, that includes an improved Siri, a new Apple navigation app, and Facebook integration. It will also be the first 4G LTE iPhone that Apple as released.

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