Apple announced today its latest edition to the iPhone family -- the iPhone 5 (creative, huh?). And, as is customary among the Apple-addicted population, the blogs exploded with speculations on what its newest features will mean for users... as well as a slew of "I want it, I want it, I want it." Frankly though, the only thing we care about is how it will supposedly revolutionize the way we watch movies and TV shows from our smartphones.

So how will it? Thanks to a live blog from the folks at ABC News, we now know a few new features of the iPhone 5 to look forward to.

Aside from its entirely glass and aluminum make, the main visible difference between the iPhone 5 and the iPhone 4 is the new 4-inch display screen with an updated resolution, making it thinner and taller than previous models. According to Ian Fogg, senior principal analyst for mobile at IHC, this could "revive the market for on-demand mobile TV and video," as all apps are being upgraded to take advantage of the bigger screen.

The iPhone 5 has LTE, "ultrafast wireless technology" and faster performance through an A6 processor chip. Not only does this make downloading and uploading files move faster, but it also implies that streaming videos through Netflix, HBO GO, YouTube, and similar video-viewing apps will be faster and have less buffering. Not to mention Apple Senior Vice President of Worldwide product marketing Phil Schiller says the battery life of the iPhone 5 "will exceed the battery life of the iPhone 4S," which means more time to watch your favorite movies and TV shows before your phone shuts down.

In addition, iCloud is now linked in directly to the updated iTunes. We know what you're thinking -- wasn't it already? Well, apparently it wasn't because now if you pause the movie you're watching in your computer's iTunes, you can pick up directly where you left off through iCloud when accessed on your iPhone 5, or vice versa. Also of note is the fact that Apple CEO Tim Cook demonstrated this feature with a clip from 'The Avengers' where the Hulk attacks Loki!

But the biggest update from the iPhone 5 pertains to movie and TV viewing is the addition of AirPlay. This new feature allows you to display whatever is on your iPhone screen on your HD TV through the Apple TV box, which can give you a better view of all your movies and turns your smartphone into a remote. All you have to do is switch on the AirPlay Mirroring feature on your phone and you're good to go.

In light of the new technology, Siri is also picking up her game, provided that she can understand you. If you ever find yourself staring at the movie theater schedule and wondering which film to see, Siri can pull up a list of high-ranked recommendations upon request. Not sure yet how reliable she'll be compared to ScreenCrush, though.

There are a few new accessories that come with the iPhone 5, but one we're most interested in are the noise-canceling ear pieces. Those will go well with the bigger speakers to make your smartphone more like a portable movie theater... hopefully.

So, wanna get a hold of the new iPhone 5? Pre-order it on September 14th, $199 for 16GB, $299 for the 32GB and $399 for the 64GB, all on contract. While you're twiddling your thumbs in anticipation, we're leaving you with the best quote of the event, coming at you from Tim Cook: "iPhone 5 and iOS 6: the biggest things to happen to iPhone since the iPhone."

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