The recently announced iPhone 5 is going to sport new and improved cameras that allow you to take Panorama images be simply panning across a scene, 40% faster photo capture, better low-light performance, improved noise reduction, enhanced 1080p HD video recording, a front-facing camera that can record 720p HD video, and more.

Take better photos with the iPhone 5

Although the iPhone 5's camera did not receive a bump in megapixels over the iPhone 4S, the new camera does have improved HDR capabilities that will produce better color and tone and reduce motion blur. Apple also claims that the quality of photographs taken in low light have improved -- but I'll believe that when I see it.

Shoot panorama photos automagically with the iPhone 5

One of the huge new additions to iOS 6 and the iPhone 5 (and iPhone 4S) camera is the new panorama feature that lets you capture up to 240 degrees of scenery. The gyroscope, new A6 chip, and Camera app all work together to seamlessly create a single shot with a resolution of up to 38 megapixels.

Record better video with the iPhone 5

Just like the iPhone 4S, the iPhone 5 is equipped with the ability to shoot 1080p HD video, but Apple boasts that the iPhone 5 camera will let in more light, creating brighter videos. The auto white balance and noise reduction have also been improved, and image stabilization is still included, of course.

Take photos while recording video with the iPhone 5

One of the great new features of the Camera app that is exclusive to the iPhone 5 is the ability to take still images while simultaneously recording 1080p HD video. I'm personally very excited about this because I often choose not to record video because I don't want to miss the opportunity for a good photo.

Better video compression with the iPhone 5

With the iPhone 5, you'll be able to record the same high-quality 1080p HD video as with the iPhone 4S, but the iPhone 5 is equipped with better compression algorithms making the file sizes 20% smaller. This means it'll be faster to email or send via MMS.

Built from Sapphire Crystal

The surface of the iPhone 5's iSight camera is made out of sapphire crystal making it, well, crystal clear. But in addition to clarity, sapphire crystal offer a hardness level that is second only to diamond on the scale of transparent materials. What does this mean for you? The lens is much less likely to scratch.

iPhone 5 features a FaceTime HD camera

It wasn't only the rear-facing iSight camera on the iPhone 5 that got a boost -- the front-facing FaceTime camera is now finally capable of 720 HD video recording. I've always avoided using the front-facing camera like the plague, but hopefully it won't be too bad, now. Additionally, FaceTime Video calls are also possible over a cellular connection without WiFi, but availability is up to the carriers.

Your thoughts on the iPhone 5's new camera?

So there's a quick recap of the new features of the iPhone 5's camera. What do you think? What are you most excited about? Personally, the ability to automagically take panoramic photos is very exciting to me, but even more exciting is the ability to take photos while recording video.

Let us know your thoughts in the comments below!