Anticipation in the consumer electronics world is soaring for the launch of Apple's iPhone 5, which is rumored to be hitting store shelves this fall.

PriceGrabber, a part of Experian, just released the results of its iPhone 5 survey, revealing that 35 percent of consumers plan to purchase the latest iPhone upon its release. Of these respondents, 51 percent indicated that they will buy the smartphone within the first year of release, 30 percent will purchase it before the end of 2011, 14 percent will buy it within the first month, and 7 percent will buy it within the first week. Conducted from July 1st, 2011, the survey includes responses from 2,852 U.S. online consumers.

When it comes to the new features shoppers deem most important in their decision to purchase the iPhone 5, practicality seems to reign. When respondents were asked to select new iPhone 5 features most important when considering a purchase, 59 percent indicated a better battery life, and 55 percent are looking for cost reduction. Forty-six percent said that 4G network compatibility was important to them, 45 percent are hoping for a larger screen, and 42 percent would like an improved camera.

"Our survey data confirms the strong following Apple has built around its iPhone, with more than one-third of consumers planning to upgrade to the latest model only a little over a year following the release of the iPhone 4," stated Graham Jones , general manager of PriceGrabber. "Anticipation and brand loyalty are certainly high, but in today's 24-7 work culture and uncertain economic environment, consumers are cautious to look for a reasonably priced phone that will perform optimally over an extended time period."

When asked which smartphone operating system they prefer, a 48 percent of PriceGrabber survey respondents said Apple iOS. Nineteen percent of respondents indicated that they prefer Android OS, 7 percent said Microsoft Windows, and 6 percent chose RIM BlackBerry.

Respondents also were asked which smartphone they would prefer to receive as a gift. A 69 percent of consumers indicated that they would most like to receive Apple's iPhone 5. Seven percent said they would like to receive Motorola's upcoming Droid Bionic, 4 percent would prefer to get the Samsung Galaxy S II, and 3 percent said the BlackBerry Curve.