The new iPhone is called the iPhone 4

Associated Press

It's the thinnest smartphone ever, says Apple. It has a stainless steel band running around it with little notches. The band and the notches are part of the integrated antenna. It also has a glass back. Add it all up, and Steve says you get a phone that delivers a clear signal. The phone goes on sale June 24. It costs $199 for a 16 gig version, $299 for a 32 gig version. 

The battery life on the iPhone 4 is pretty sick. 7 Hours 3G talk time up from 5 hours on last phone.

GDGT

iPhone 4 has a gyroscope in it and it runs on an A4 chip. (That's the same chip powering the iPad.)

GDGT

The iPhone will have a front facing camera for video chats. The video chat service is called FaceTime.

Associated Press

The screen has 4X the pixels of the last iPhone. It looks like an amazingly sharp screen.

Associated Press

Apple is selling iMovie for the iPhone.

GDGT

The new iPhone has a 5 megapixel camera that shoots in HD. You can edit the video from iPhone 4 in iMovie for the iPhone. It's a $4.99 app. And it'll be in the App Store, "if it's approved," joked Steve Jobs.

Zynga announced plans to bring Farmville to the iPhone. So did Activision for Guitar Hero. And Reed Hastings, CEO of Netflix announced Netflix was coming to the iPhone.

Apple has paid $1 Billion to developers. There have been 5 billion app downloads overall.

GDGT

Steve announced advertisers have committed $60 million for iAds for the second half of the year. iAds launch July 1.

Engadget

Steve took a little shot at Google, too. If you want to get paid, you'll develop for Apple.

GDGT

Bing comes to the iPhone! It's not the default, but hey, it's a start...

Engadget

The iPhone OS is no longer the iPhone OS. Instead, it is iOS.

There have been 5 million books downloaded from the iBookstore. iBooks are now 22% of the eBook market, and iBooks is getting PDF support. That's nice.

Here's a video of Steve unveiling the new iPhone

What does everyone think of the new iPhone?

Here's the reaction from Twitter to iPhone 4 >

What does iPhone 4 look like?

Big Beautiful Pictures Of Apple's New iPhone