Consumer Reports put both platforms to the test.
One item tested was the display. Everyone wants a big screen to watch movies, play games, and use apps.
While the iPhone 5's four-inch screen is Apple's biggest yet, it can't compare with the screens on many Android phones.
"Voice-control is another area of competition. Here Android capabilities are quite good, though they're no match for Siri, who can understand and execute more complex commands," said Mike Gikas of Consumer Reports.
Another function put to the test was navigation.
"Android has more detailed maps, better traffic info, and more customization. Apple has a few glitches, and until those are worked out, Android carries the day," Gikas said.
Cameras were also compared. While both the iPhone 5 and some Android phones have the ability to take panoramic stills, Consumer Reports finds when it comes to photo and video quality, the iPhone 5 outperforms the Android competition.
What if you want to talk on the phone and connect to the Internet over the cellular network at the same time? While most 4G phones can do that, the iPhone 5 can't if it's connected to Verizon or Sprint.
So while the iPhone 5 gets many things right, so do a lot of the top-rated Android phones, making them worth consideration.
Due to significant improvements over the iPhone 4S, the new iPhone 5 is now among Consumer Reports' top-rated phones, up with the Samsung Galaxy S III and the Motorola Razr.