After what seems like 10 years of waiting, the iPhone 3G has officially been announced!

And the device is now 3.6 times faster on the new 3G network, but the big news is the price, it's been lowered to $199 for the 8GB version. A 16GB version will cost $299 and be available in white. It also has the much rumored addition of GPS, as well as the all black back and a make that's thinner around the edges.

The battery life has also been increased, an addition that was less speculated. There will be 10 hours of 2G talk, 5 hours of 3G talk, 5-6 hours of internet browsing, 7 hours of video, and 24 hours of audio, though obviously not concurrently. There is 300 hours of standbye time.

The release date for the new iPhone 3G is July 11th.

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