Taller 4-inch screen, aluminum unibody, LTE, and the Lightning connector that retired the 30-pin dock.
Released September 21, 2012 · Discontinued September 10, 2013 · From $199 (16 GB, with contract)

The iPhone 5 made the screen taller and left the width alone, which was the compromise between people who wanted a bigger phone and Jony Ive's insistence that your thumb should still reach the far corner. Four inches, 640x1136, the same 326 pixels per inch as the 4S. It also killed the 30-pin dock connector that every accessory built since 2003 had used. Lightning was smaller and reversible and, for a year or so, genuinely annoying if you owned a speaker dock. The body went to anodized aluminum over a steel frame at 112 grams and 7.6 millimeters, lighter than the 4S it replaced despite carrying a larger screen. LTE arrived, the A6 roughly doubled CPU and graphics again, and RAM went to 1GB. Apple sold five million over the opening weekend and shipped the phone with iOS 6, which meant shipping Apple Maps, which went badly enough that Tim Cook published an apology that September recommending competitors. The phone itself was fine. The black anodizing scratched.
Reviewers liked the taller screen, the weight and the speed, and spent most of their word count on Apple Maps, which had replaced Google's and was visibly not ready.
I like it a lot and can recommend it, despite a few negatives, such as a new maps app that has one big plus, but other big minuses.
Apple has taken an already great product and made it better, overall.