Will Apple replace my iPhone 5 if?

Okay so I got the iPhone 5 the morning it came out. I've had a few problems with it so far, like when I slide to unlock sometimes it will restart the phone, but now the power/lock button is acting up. It works but sometimes it just doesn't work at all and I have to click like 5 or so times for it to work. Is this something Apple or Verizon would replace free or am I going to have to pay? Also, when I got it they ran out of black ones right before me and they said it was $30 to swap my white one for a black one so I was just hoping there's an apple "genius" that could let me know about this all. Thanks! Also, I'm currently downloading the 5.0.1 update for it which might get rid of the restart when I unlock it but the power/lock button is a hardware part so I'm not sure it will be fixed… Thanks in advance for the replies!

Apple or Verizon will definitely fix or replace it, because the problems it's having aren't normal and aren't your fault, and they are covered by the free Apple 1 year warranty. If you've had it less than a month you might be able to just bring it to Verizon and they'll swap it (otherwise you might have to bring it to an Apple store or send it to Apple).

As far as swapping it for black, the best time to do that would be when you're gettng it fixed/replaced anyway - so make sure to bring that up when you ask.

And finally, the software update maybe will fix all of these problem. It's not unusual for a new model phone to have glitches which can be fixed with an update. But not all problems are software-related, and even if they are, they might not be fixed right away or ever.

When you buy an apple product, they usually give you a 90 day apple car trial run basically. Anything that goes wrong with the product, they will replace. You should not download any software but the current one, apple will not replace a jailbroken product or any product that has been visibly tampered with. All the problems that you have, seem like they are simple things that you could have not done to the phone which means it is just factory issues. I broke my iPhone by dropping it on the ground and the screen went black, they replaced it for free! Set up an appointment with apple to talk to them about the issues that you are having. They are generally respectful to things like that. Hope this helps!

Simple answer: Yes! Take it to the Apple store, if you ever have any problem at all with any apple product they will fix it or replace it for you always and for free! They are known best for having unbelievably awesome customer service and don't bother taking it to version they have horrible costumer service. Hope I helped!