Released last month, the new generation of Apple's mobile phone introduces in-cell technology, which integrates the touch sensors into the liquid crystal display (LCD), meaning the screen can be much thinner.
In-cell has enabled the iPhone 5 screen to shed 0.6 millimeters in girth on the iPhone 4S, according to teardown analysis by IHS iSuppli.
However, the 1.5mm thick iPhone 5 screen is still not as thin as the 1.1mm display in the Samsung Galaxy S3.
The colour gamut in Apple's latest smartphone has increased to 72% of the NTSC standard, compared to just 50% in the iPhone 4S. Again, though, this lags behind the 100% colour gamut in the Galaxy S3.
But IHS iSuppli feels that technical excellence inside the Galaxy S3 might be missing the point.
The organisation notes that despite having a thicker screen, the iPhone 5 body is just 7.6mm thick overall, making it slimmer than the 8.6mm thick Samsung handset. The latter's extra girth is thought to stem from the battery size.
Equally, the iPhone 5 is judged to offer a more accurate and realistic representation of image colours and contrasts due to Apple's work to improve calibration, brightness and power efficiency in the display.
"From a user's perspective, the lower colour gamut measurement may not necessarily make the iPhone 5 display look worse than the Galaxy 3," IHS says.
The iPhone 5 is the first mobile device to use in-cell technology, which not only reduces the thickness of the display but also allows more light to emit from the display without the danger of refraction or glare.
Vinita Jakhanwal, director for small & medium displays at IHS, said that the addition of in-cell has significantly boosted the iPhone 5.
"As the first product with in-cell touch, the iPhone 5 represents a major achievement, improving the image quality and reducing the thickness of the smartphone compared to previous models," she said.
"And although the iPhone 5 still trails the Galaxy S3 in the display specs race, the iPhone 5 overall remains thinner than the Galaxy S3, and its display colour gamut is more than sufficient for most users.
"Such improvements on the iPhone 5 are consistent with Apple's philosophy of selecting features designed to yield profitable products that deliver a superior customer experience, rather than of providing technology for technology's sake."