Dan Frommer at SplatF:
Cue the whiners. Apple didn’t announce an iPhone 5 today, just an updated version of the iPhone 4, called the iPhone 4S. Apple stock is down a bit in a flat market. Many are claiming to be disappointed. But here’s the thing: You shouldn’t be.
The iPhone 4 is far and away single best selling smartphone almost a year and half after its release. Why Apple would throw that proven exterior design away is beyond me. If Apple was a bit more cynical, they could have called this (vastly) updated phone the iPhone 5 and people would rejoice.