The iPhone 5 mystery remained a mystery after all. The tech world was utterly disappointed as Apple announced iPhone 4S, not iPhone 5, at its Let's talk iPhone event on Tuesday.

Many analysts believed that with the new CEO Tim Cook, Apple would definitely set the smartphone world on fire with a spectacular and feature-rich iPhone 5. But that didn't happen. Saying 'yes' to the rumors of a thorough revised model of last year's iPhone 4, the company unveiled iPhone 4S, something which cannot be regarded as the rightful heir to the smartphone throne.

The iPhone 4S, which is aesthetically similar to iPhone 4, costs $199 for the 16GB model, $299 for the 32GB model, and $399 for the 64GB model. The device will be available from Apple's Web site and retail stores, carriers AT&T, Sprint, Verizon Wireless, and authorized Apple resellers.

Customers can get the iPhone 4S in black and white and can pre-order them from Oct.7. It will be launched in the U.S., Canada, Australia, UK, France, Germany and Japan on Oct. 14 and on Friday, October 28 in 22 additional countries.

Yes, the iPhone 4S is not what iPhone fans wanted to see. But the sequel does have some good updates in its features. Here are eight key facts:

Dual-network World Phone Capability: With both CDMA and GSM networks, the new iPhone 4S functions as a world phone. According to analysts, for a lot of users who travel internationally, the world phone is a big thing.

A Third U.S. Carrier - Sprint: Sprint has accompanied Verizon Wireless and AT&T as the third wireless carrier to support the iPhone. Sprint, which has waited for years to get the opportunity, is likely to boost iPhone 4S sales, especially among customers in the Midwest and among lower-income users, according to analysts.

Unique Technology for Better Reception: After the launch of iPhone 4 last year, users found that holding the device a certain way led to dropped calls. With the new iPhone 4S, Apple seems to have fixed the glitch. The new device features a unique technology that switches a radio signal between its two antennas to send and receive - a new feature that is expected to provide better reception.

Faster Processor: The iPhone 4S comes with a dual-core A5 processor, which is expected to deliver two times faster CPU performance and up to seven times faster graphics performance.

Faster Download: With HSDPA (High Speed Download Packet Access) technology, Apple claims that the new iPhone 4S supports faster data download speed, nearly twice as fast as the iPhone 4 - 14.4Mbps compared to 7.2Mbps.

Speech Recognition Capability - Siri: The iPhone 4S comes with a built-in digital assistant called Siri, which takes voice commands and translates speech into text in English, French and German, though more languages will be added later. Siri allows iPhone 4S users to tap their home button and simply prompt the phone to assist, including time inquiry, making a call, searching the web and finding restaurants.

Improved Camera: The iPhone 4S camera has an 8 megapixel sensor that takes 3264 by 2448 pixel pictures. It will capture more vibrant photos, especially in low light. The camera is claimed to be 30 percent sharper, with an aperture of f/2.4. The video camera will be able to capture video in 1080p HD.

Improved Battery: The iPhone 4S battery will provide eight hours of talk time, six hours of Internet surfing and nine hours in Wi-Fi mode. Users can watch movies for 10 hours, and can play music for 40 hours.

The iPhone 4S does have some cool features that make the smartphone compelling. But one thing that is the least interesting about it is its hardware. Apple stuck with the same exterior design, and the question still remains - Do we want an iPhone 4S?

Apart from showing off its latest iPhone 4S, Apple also reviewed some of the highlights of the newest iteration of its mobile operating system - iOS 5, which will be available for download on Wednesday, Oct. 12.

What is Left for iPhone 5?

The iPhone 4S, a more powerful version of iPhone 4, lacks some impressive improvements like 1GB of RAM, support for NFC, 4G speed, and a larger display. Disappointed fans can now wait for the next iPhone iteration.

Must Read: iPhone 5 Release: Top Reasons Why Android Smartphones Shouldn't Care About Hype