The iPhone 5 offers a lot of great new features, building upon Apple’s previous model across the board. The question is, should you upgrade?

Technology expert Jonathan Geller thinks most of the hype around Apple is justified, considering what the company has brought to the smartphone world, “They really did invent that entire experience that we take for granted today,” Geller explained. “Just the fluidity of being able to touch your contacts and scroll through a list of music or have a full web browser on your phone. Those are things that no manufacturer in the world was doing before Apple.”

Apple has built on those advances with every new smartphone release and the iPhone 5 is no exception. Thinner, lighter and faster with even more connectivity features, Apple’s latest is designed to compete with newer model Android-powered devices that also offer fancy features and powerful hardware.

Bottom line: If you’re someone who has to have the latest technology, or use Apple products in other areas of your life, an upgrade may be worth the cost. On the other hand, you might not miss out on much if you’re just one generation behind – with an iPhone 4S.

“If you have an iPhone 4S, this may not be a necessary upgrade for you, because when the software comes out, you’ll get a lot of the enhancements that the new phone will have in the software, which is free,” industry watcher Mario Armstrong said, “But if you have anything older than an iPhone 4S, I absolutely think that this is a worthy purchase.”

Make sure to consider your budget and compare costs when possible. Check as well to see if you’re eligible for a discounted device upgrade and make sure to examine plans for each carrier. Many have switched to “data share” models that can offer savings for a family.