Phil Schiller, Apple's senior vice president of worldwide marketing, speaks on stage during an introduction of the new iPhone 5 at an Apple event in San Francisco, Wednesday. (Eric Risberg/AP)

Get the latest updates on Apple’s big announcement -

The Apple rumor mill will continue to churn, but not about the iPhone 5, which Apple revealed today. The announcement slakes, if only for a moment, the thirst among Apple fans for a new product.

But is it innovative?

The new iPhone 5 is displayed during an Apple special event at the Yerba Buena Center for the Arts in San Francisco on Wednesday. (Justin Sullivan/GETTY IMAGES)

For more on the details, check out the live blog where we’re chronicling all of the latest developments.

In the meantime, let us know what you think of Apple’s new phone in the comments below or on Twitter and Facebook.

Read more news and ideas on Innovations:

LIVE BLOG | Apple Announces iPhone 5

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