Apple introduces its new iPhone, with 3G wireless technology. The new model has built-in GPS and costs half the price of the current model: the 8 GB, available in black, costs USD 199 and the 16 GB, available in black and white, USD 299. It has a 2 megapixels camera and supports Microsoft Exchange. The new iPhone will be available starting July 11 in 22 countries, including U.S., U.K., Canada and Japan. By the end of the year, Apple expects to launch it around 70 countries.

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