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By Dave Smith | October 4, 2011 5:35 PM EDT

Audiences across the world sat at their computers following live feeds and blogs of the Apple's iPhone event, hoping to get a glimpse of the brand-new iPhone 5. Almost two hours in, Apple CEO Tim Cook took the stage again to recap everything unveiled at the show. As audiences leaned in a little closer, expecting the iPhone 5 to be the grand finale, Cook thanked the Apple team and exited the stage, leaving audiences high and dry. No "one more thing." Remember, this is Tim Cook, not Steve Jobs.

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Apple gave everything fans and technophiles could want at a product launch: a new line-up of iPods, exciting new applications like Siri and Find My Friends, and even a surprise in Cards, Apple's new greeting card offering. But since Apple didn't deliver on the one thing it never promised--an iPhone 5--fans are extremely disappointed.

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Consumers wanted an iPhone 5, not just an upgraded iPhone 4. Prior to Apple's event, an independent study conducted by mobile ad network InMobi found that less than 15 percent of customers would buy a new iPhone if Apple's next phone is just an upgraded iPhone 4. However, these consumers didn't know what the new phone would feature.

The new iPhone 4S looks almost identical to the current iPhone 4 already on the market. It features upgraded internal processors like Apple's A5 chip and 1 GB of RAM, and clocks a download speed twice as fast as the iPhone 4.

The phone also has a better and faster camera, and new antenna system that oscillates between two antennas to achieve better sound quality and download speeds. Apple VP Phil Schiller said that the iPhone 4S is "up to seven times" faster than the previous iPhone, and that this would be the first iPhone with a dual-core processor and dual-core graphics.

The phone also features Siri, which is a state-of-the-art virtual assistant that helps its user create and send texts and e-mails, set up meetings and reminders, find directions, call friends, and play music.

So Apple delivered on a new iPhone, but at the end of the day, users wanted a completely new iPhone.

But is this a reasonable grievance? The fact is, Apple never once said it was releasing an iPhone 5. Doctored photos, anonymous reports and analyst notes contributed to the unprecedented amount of Apple rumors. At the end of the day, each fan is responsible for buying into the hype.

Fans really have no reason to complain. Yes, the new phone looks exactly like the current phone, but 1) the current phone is actually pretty great, and 2) the new phone has all of the promised features of the iPhone 5, and then some. The iPhone 4S has a better camera, a better battery, faster processors, and a couple of great new applications like Find My Friends and Siri. It plays games and movies better, and Siri's groundbreaking system allows you to perform activities without constantly looking down at your phone all the time. What more do you want?

Okay, so 4G LTE isn't coming to the iPhone anytime soon, but the only people who will truly be disappointed by the iPhone 4S are those who judge books by their covers. If people just wanted an über-slim phone with a different name, they are clearly not paying attention to what's inside. Fans got their iPhone 5, it's just not called the "5."

MUST READ: iPhone 5 Releases Today: Top 10 Features Likely Missing in Apple's Newest Weapon [PHOTOS]

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No Apple iPhone 5: Major Disappointment, or A Lesson in Hype?
(Photo: Reuters/Robert Galbraith)
CEO Tim Cook recaps the new products and announcements at Apple's media event on Tuesday. Though fans expected an iPhone 5, they have no reason to be disappointed.
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