The new iPhone 5 was unveiled at an Apple event on Sept. 12 and though the phone will not hit shelves until the 21st, preorder is available online starting this Friday.

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With a two-year contract, the iPhone 5 will $199 for the 16GB model, $299 for 32GB and $399 for 64GB.

For online preorders and in-store sales, here is the breakdown in Eastern Time:

Verizon Presale: Sept. 14 (3 a.m.) In Store: Sept. 21

AT&T Presale: Sept. 14 ( exact time unknown ) In Store: Sept. 21

Sprint Presale: Sept. 14 (3:01 a.m.) In Store: Sept. 21

Apple Presale: Sept. 14 (12 a.m.) In Store: Sept. 21 (8 a.m.)

According to the Christian Post, Apple has posted phone plans for users to scan and see which fits them best. Share plans start at $60 a month for 2G of data and can go up to $100 for higher versions, according to the publication. For each smartphone added to the family plan, an extra $40 will be charged.

There will also be a discount in the price of the older iPhone. Apple is reducing the iPhone 4S by $100 for the 16GB, retailing for $99 instead of $199, with a two-year contract, according to The Huffington Post. They also reported that the 16GB iPhone 4 will be given away for free for those who sign contracts with mobile carriers.

The screen, like previously rumored, was announced to be 4 inches in size, a half-inch bump up from the previous iPhone, the processor is twice as fast as the iPhone 4S and the battery life lasts longer, amNew York reported. On one battery life, the phone will be able to withstand eight hours of talk time and web browsing. It's also the thinnest and lightest iPhone yet and the camera quality has also been upgraded. The connector is also reported to be much smaller.

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Apple, Iphone 5