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Apple's iPhone 5 most likely won't catch the Samsung Galaxy S 3 as far as sales go in 2012, but Apple will still have something to brag about. The newest Apple smartphone has been named Gadget of the Year by Time Magazine according to the magazine's website.
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The coveted prize is given out annually by Time to the top device which was awarded to Apple this year for the overall "service and operation system quality" that iPhone 5 provides according to CNN.
"The iPhone 5, which starts at $199 with a two-year contract, is one of the most artfully polished gadgets anyone's ever built, with a taller screen than previous iPhones built into a thinner, lighter case," Time Magazine writer Harry McCracken said about the Apple device. "The camera, with a particularly well-done panorama mode, is another highlight."
The other top 10 gadgets selected by Time include:
1. iPhone 5
2. Nintendo Wii U
3. Sony Cyber-shot RX100
4. Raspberry Pi Model B
6. Apple 15″ MacBook Pro with Retina Display
7. Microsoft Surface with Windows R
8. Samsung Galaxy Note II
Apple sold approximately 5 million iPhone 5 devices on opening weekend back in September, but they have had trouble keeping up with the high demand for the phone since. It wasn't until last week that the company ordered production plants to pick up the pace so that they could get more phones out during the holiday season.
Many experts believed the company was going to release the iPhone 5S earlier than expected to help reduced the demand for the iPhone 5 a little. The iPhone 5S is currently slated to be released in June 2013.
Click here to read more about the iPhone 5S specifications and the release date.
Certain retail stores have also decreased the price of the Apple device recently to help benefit off the holiday shopping season. Places like Best Buy are offering the phone for just $150, or $50 less than the average asking price at a retail phone store like Verizon.
"There are lots of nifty smartphones out there, including the iPhone's impressive arch-rival, Samsung's Galaxy S III," said McCracken. "But when it comes to melding hardware, software and services so tightly that the seams fade away, Apple still has no peer."
The magazine containing the annual list of best gadgets will be available on newsstands starting Dec. 13.