Updated from 9:11 a.m. EST

Apple ( AAPL) has just introduced a brand new iPod shuffle.

It is amazingly small -- half of the size of the previous model and the first music player that actually talks to you.

The new VoiceOver feature enables iPod shuffle to speak your song titles, artists and playlist names. That means in case you can't recognize the song you've transferred to your own music player the new Shuffle should save the day.

The 'talking' iPod shuffle

The third generation iPod shuffle design is said to be smaller than an AA battery and its 4GB internal storage holds up to 1,000 songs (of questionable sounding 128K files) or fewer of the better sounding Lossless/AIFF files.

To get the device so small, Apple has removed the iPod controls from the device itself to the device's earbuds. That's a great space saver but handcuffs you into only being able to use those earbuds with the new Shuffle. I estimate that those earbuds actually cost Apple a dollar or two, and if they sound anything like the ones they package with other iPods they're not even worth half that much.

The new device retails for $79, comes in two colors, and is available today on Apple's Web site.

Gary Krakow is TheStreet.com's senior technology correspondent.

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