iPhone 5 Pre-Orders Sell Out In One Hour

According to a report from TechCrunch, pre-order stocks for Apple's fifth-generation iPhone sold out nearly 20 times faster than those for the iPhone 4S and iPhone 4, which were wiped out in 22 hours and 20 hours, respectively.

As a result of the overwhelming demand, Apple has pushed back its original iPhone 5 shipment date one week, from Sept. 21 to Sept. 28.

[Related: The 7 Coolest Features Of The Apple iPhone 5 ]

The iPhone 5 was formally unveiled Wednesday at an Apple-hosted event in downtown San Francisco, sporting a larger screen and a thinner design compared to its early generations. The new device is fueled by Apple's new A6 processor, which is 22 percent smaller than the previous A5 chip used in the iPhone 4S, but offers double the performance.

What's more, the iPhone 5 supports 4G LTE high-speed wireless networks, a capability that was missing from the iPhone 4S, and has a longer battery life, delivering eight hours of talk time and 4G Web usage and 10 hours of Wi-Fi usage.

The new smartphone is also the first in Apple's lineup to run its latest mobile operating system, iOS 6, an update that will arm users with tighter integration to social networking sites like Facebook, along with Apple's own homegrown maps application and a more advanced version of Siri, the voice-activated personal assistant feature that debuted with the iPhone 4S.

The iPhone 5 comes in a $199 16-GB model, a $299 32-GB model and $399 64 GB-model.

PUBLISHED SEPT. 14, 2012