UPDATE: As of Friday afternoon, CNET reports Verizon has pushed delivery dates back to September 28, while AT&T's website states iPhone 5 orders will be shipped in 14 to 21 business days.

If you want that shiny new iPhone 5 as soon as possible, then grab your folding chair and an umbrella, because you may have to wait in a long line outside the Apple Store.

According to Business Insider, about one hour after the iPhone 5 pre-orders were made available to the public (at 12:01 a.m. PT on September 14), the entire stock was sold out. Shipping estimates on the company's site now currently say it will take at least two weeks to deliver phones in the U.S., U.K., Canada, Australia, and Germany.

While some lucky Apple enthusiasts quickly ordered their devices, this morning's purchasing process had a few glitches. CNN reports that heavy traffic on Apple's website led to the damning "We'll be back" sign, which inevitably frustrated the sleepy internet and Twittersphere.

Some smartphone users found a loophole and were able to bypass Apple's overwhelmed website and place orders via the Apple Store's iOS app. According to CNET, "buying options went live immediately after midnight" via the app.

MacRumors suggests that customers "may still be able to receive launch-day delivery" (September 21) by ordering though AT&T, Verizon, or Sprint. But the Apple-obsessed site also gives one final caveat to expecting iPhone 5 owners: the 9/21 delivery date from listed on the carriers' sites may not "immediately reflect available stock."

Yikes.

So back to square one: If you weren't one of the lucky few who could access the Apple Store last night, and you're concerned cellphone carriers won't make good on the promised release date, then prepare to wait a few weeks or camp in front of an Apple Store.

Never have pre-orders for a new iPhone sold out within one hour. TechCruch notes that the iPhone 4 pre-orders sold out in 20 hours, while the iPhone 4S pre-orders sold out in 22 hours, meaning the iPhone 5 sold out a whopping 20x faster than its predecessors.

Were you successfully able to pre-order the iPhone 5 last night? Let us know how it went for you in the comments section, or tweet us at [@HuffPostTech]. If you're still on the fence about the new iPhone, take a look at our chart to see how it compares to top competitors like the Galaxy S3 and the Lumia 920; and view our gallery of the 7 things the iPhone 5 has that the iPhone 4S doesn't.

Related on HuffPost:

Loading Slideshow...
  • It Works On 4G LTE Networks

    At last, the iPhone will become a part of the LTE community, which means it will streams videos and downloads content at quicker speeds. <a href="http://www.pcmag.com/article2/0,2817,2409610,00.asp" target="_hplink">According to PC Mag</a>, LTE connectivity for the iPhone will be available through AT&T, Verizon, and Sprint in the United States.

  • It's Slimmer, Taller And Sleeker

    The <a href="http://www.huffingtonpost.com/2011/10/04/new-iphone-4s-unveiled-at-apple-announcement_n_994462.html" target="_hplink">iPhone 4S</a> has a 3.5 inch display (measured diagonally) and weighs approximately 140 grams. The <a href="http://www.huffingtonpost.com/2012/09/12/iphone-5-features_n_1877637.html?utm_hp_ref=apple-september-event" target="_hplink">iPhone 5</a> boats a 4-inch display and, though taller than its predecessor, is 18 percent thinner (measuring 0.3mm) and 20 percent lighter (weighing 3.95 ounces), according to Philip Schiller, Apple's senior VP of worldwide marketing. The Retina display on the iPhone 5 now "offers 326 pixels per inch" and a resolution of 1,136x640, <a href="http://www.pcworld.com/article/262242/apple_announces_iphone_5.html" target="_hplink">according to CNET</a>. The back of the device also looks slightly different than that of the iPhone 4S: "<a href="http://www.apple.com/iphone/design/" target="_hplink">The same [aluminum] used in Apple notebooks</a>" covers much of the back of the iPhone 5. Glass is inlaid above and below the aluminum -- either white "ceramic glass" or black "pigmented glass," depending on which color iPhone you select.

  • It Has Better Camera Features

    The <a href="http://www.huffingtonpost.com/2012/06/21/galaxy-s3-vs-iphone-4s_n_1615824.html" target="_hplink">iPhone 4S</a> had a VGA front-facing camera (which is less than one megapixel) and a eight-megapixel rear-facing camera with LED flash. The iPhone 5 brings some significant improvements to this department. <a href="http://venturebeat.com/2012/09/12/iphone-5-camera/" target="_hplink">According to Venture Beat</a>, Apple claims that the camera will take pictures 40 percent faster and will have the ability shoot in "panorama mode." You'll also be able to take photos while filming video -- there's improved video stabilization, too. But the iPhone 5's main camera will still be <a href="http://www.huffingtonpost.com/2012/09/12/iphone-5-features_n_1877637.html?utm_hp_ref=apple-september-event" target="_hplink">eight megapixels</a>.

  • The Battery Life Is Longer

    Who dosen't want a smartphone with longer battery life? Apple promises the <a href="http://www.huffingtonpost.com/2012/09/12/iphone-5-features_n_1877637.html?utm_hp_ref=apple-september-event" target="_hplink">iPhone 5 </a>will last 225 hours on standby, and eight full hours while talking on the phone or surfing the web through 3G. The <a href="http://www.huffingtonpost.com/2012/06/21/galaxy-s3-vs-iphone-4s_n_1615824.html" target="_hplink">iPhone 4S</a> falls just a bit short of the above estimates, maintaining only 7 hours and 41 minutes of talk time, or 6 hours and 56 minutes of web browsing.

  • Its Innards Are More Powerful

    The <a href="http://www.huffingtonpost.com/2011/10/04/new-iphone-4s-unveiled-at-apple-announcement_n_994462.html" target="_hplink">iPhone 4S</a> was built around Apple's A5 processor, while the <a href="http://www.huffingtonpost.com/2012/09/12/iphone-5-features_n_1877637.html?utm_hp_ref=apple-september-event" target="_hplink">iPhone 5</a> houses a slightly faster A6 processor. Apple claims this upgrade gives its latest device twice the computing power.

  • It Comes With New Accessories

    The iPhone 5 steps away from the classic charger ports that have been in use for Apple products since 2003. Say goodbye to the 30-pin dock and hello to Lighting, a <a href="http://www.huffingtonpost.com/2012/09/12/iphone-connector-iphone-5-dock-charger-lightning_n_1878282.html?utm_hp_ref=technology" target="_hplink">reversible 8-pin connector</a> that's approximately 80 percent smaller than the previous charger port. The new smartphone will also be sold with <a href="http://www.huffingtonpost.com/2012/09/12/earpods-apple-new-earbuds-headphones_n_1878472.html?utm_hp_ref=technology" target="_hplink">EarPods</a>, Apple's latest (and supposedly more comfortable) version of earphones. Without purchasing an iPhone or iPod, these new buds retail for $29.99

  • ...But It's Got A Heaftier Price Tag

    The iPhone 5 is priced on the same scale that the iPhone 4S was when it launched. Purchasing a two-year data contract from a participating wireless carrier will set iPhone 5 buyers back $199 for a 16GB model, $299 for a 32GB model or $399 for a 64GB model. Now that the iPhone 5 is official, the iPhone 4S is getting an attractive price cut. Apple will now sell the 16GB iPhone 4S for $99.