If you're looking to buy a top of the line smartphone, now is a smart time to buy.  The Samsung Galaxy s3 and the iPhone 5 have both debuted within the past few months, both are packed full of features, and both sell for $199 with a 2-year contract. 

But which one should earn a space in your pocket?

Space in your pocket is the first thing you're going to have to consider.  The Galaxy is a much larger phone. The big screen comes in handy for watching movies and playing games, but for some, it may be a little too big. However, despite the difference in looks, the phones have a lot in common.

Both phones:

• Feature solid cameras that shoot 1080p video 
• Take 8 megapixel stills
•  Have 4g internet
• Come on a variety of carriers        
• Start at 16 gb of storage - although the Galaxy allows you to add more storage and swap the battery, which are options the iPhone doesn't offer.
• Advertise features you'll probably only rarely use - easy panoramic photos on the iPhone and bumping your phone to exchange info on the Galaxy.

Honestly, they're both solid choices, and it really comes down to a battle between the operating systems. Android or iOS.  Android allows for more customization, while iOS tries to make it so you don't need to customize much.

When it comes to apps, iOS has a lot more than Android, although Android is catching up.  But remember, if you're thinking of switching from one to the other, the apps don't transfer.  Any app you bought on the iPhone, you'll have to pay for again if you want to use it on the Galaxy. 

If you've got a lot of other apple devices like the iPad or an Apple TV, you'll probably want to go with the iPhone.  If you've got a Samsung smart TV or like the flexibility of Android, the Galaxy is the better choice.

Regardless of which one you choose, if you buy now, you know it will at least be a little while before a newer, better phone comes out to beat it.