Updated from 2:58 p.m. EDTSAN FRANCISCO -- Relax, America -- your new iPhone has arrived. And the even better news: It now costs about half what it used to. After months of speculation, Apple ( AAPL) CEO Steve Jobs unveiled the company's latest iPhone model Monday, designed to run on faster 3G cellular networks, as the company looks to expand sales of its latest technology hit. At the company's annual Worldwide Developers Conference here, Jobs displayed the new, thinner device, which includes a GPS system, better battery life, boosted enterprise support and third-party applications. The new version will be available July 11. Jobs also showcased updates to iPhone's software, including the MobileMe platform, which offers "push" email and calendar services to sync data with Macs and PCs.
Cramer: Make a Bushel Off New iPhone