iOS 5.0.1 was released to solve the battery issues that iPhone 4S owners were experiencing. But Apple released a statement which said that there are still investigating a few remaining issues with the new version. Now many users are discovering a new host of bugs on iOS 5.01.

According to GigoOm, apart from poor battery issues that the users are experiencing on iOS 5.0.1, users are also experiencing WiFi drop-outs, microphone problems and a weird bug in contact recognition on the Verizon iPhone 4S.

There are numerous pages of bug complaints about bugs in iOS 5.0.1, with iOS 5.0.1 not solving most of the problems. Apple didn’t clearly mention that which issues are still not resolved after releasing the new version so one can’t expect the bugs and glitches to be fixed any time sooner.

On the Verizon iPhone 4S , TheStartupFoundry discovered a new bug in which performing an OTA update to iOS 5.0.1 makes the phone’s contacts to become unrecognized. Apart from that users won’t be able to downgrade from iOS 5 versions. So those on 5.0.1 are now trapped.

If you’ve updated to iOS 5.0.1, have you found any bugs? How is the battery life of your iPhone? We would like to hear your comments below.