What is the difference between iphone 4 and iphone 5?

What is the difference between iphone 4 and iphone 5?

5 has far better hardware

I have an IPhone 4S. It can do almost everything an IPhone 5 can do,
BUT
the 5 has a bigger screen, and has some extra features making it more versatile than a 4S
BUT
for the difference in price, I decided that the 4S was a better purchase… \
I can afford the difference, but why? Just to have the "latest"?

The Apple iPhone 4 made huge waves when it was launched in June 2012 as the successor for iPhone 3GS. It was marketed with the intention of promoting video calling. The iPhone 4 supports a 3.5 inch LED-backlit IPS LCD, capacitive touchscreen with 640 x 960 pixels and 16 million colors. The iPhone 5 is the latest innovative product of the Apple Company. They have made the new phone slicker, thinner and lighter with even more packed features. IPhone 5, bigger than its predecessors, supports a 4-inch LED-backlit IPS LCD screen with 640 x 1136 pixels and 16 million colors.