Time magazine has released its annual list of the year's best gadgets for 2012; however, one gadget that is notably absent and did not make the cut was the best-selling Samsung Galaxy S3. The Top 2012 list includes a gamut of gadgets, including the iPhone 5 and the Galaxy Note 2 smartphones.

Number one on the list is the iPhone 5, based on the device's superiority in the way Apple designs its hardware and software. Some tech enthusiasts may not agree completely with the list, though the iPhone 5 making the top three is agreeable.

"I would argue that the iPhone 5 is more than worthy of the number one spot. Remember, the list isn't just based on innovation or capabilities. It's more-so based on the public perceptions of the product and its impact on the market. And on those front, the phone is doing exceptionally well," said Cody Lee of iDownloadBlog.

"Despite 5 million units sold in its opening weekend, and stellar sales results that catapulted iOS back into the mobile operating system lead in November, the iPhone 5 probably can't catch the Samsung Galaxy S III, which launched in the summer and reached 18 million units by early November," noted John Koetsier of Venture Beat.

Even though sales outweigh what the seemingly subjective list is portraying, the Samsung Galaxy S3's omission from the top gadgets suggests that Apple can dominate with or without sales. 

Here is the fully list of the top 10 gadgets of 2012 as selected by Time:

1.  iPhone 5
2.  Nintendo Wii U
3.  Sony Cyber-shot RX100
4.  Raspberry Pi Model B
5.  Lytro
6.  Apple 15" MacBook Pro with Retina Display
7.  Microsoft Surface with Windows RT
8.  Samsung Galaxy Note 2
9.  Nest
10. Simple.TV

Time did not place either the iPad or iPad mini on their list along with any of the new e-readers that launched this year either but did rank the Microsoft Surface.

"With the Surface tablet, which starts out at $499, it finally designed a PC of its own -- one of the sleekest, most ambitious devices ever to run Windows," noted Time's Harry McCracken.

Aside from Apple and Windows, Time also praises Nintendo for its Wii U console that launched just this year.

"It interacts with your TV in different ways in different games, and has the potential to be a big deal if game developers make good use of it. TVii, which combines streaming video from sources such as Netflix with your cable lineup and TiVo recordings. It's the first time that the famously game-centric Nintendo has poured its heart and soul into a non-gaming feature," says McCracken about the Nintendo Wii U.

Now that 2012 is coming to an end, did your top gadgets of the year make the list?