The very highly anticipated 3G iPhone has just been announced by Steve Jobs at Apple’s annual WWDC. This time around, the iPhone is everything the old one was but better and amazingly, a lot cheaper. It has thinner edges, a full black plastic back, flush headphone jack, and it will be 36% faster than Nokia’s N95 and Treo 750 in terms of pageloads. It also has improved battery life with 300 hours of standby, 8-10 hours of 2G talk, 5 hours of 3G talk, 7 hours of video, and 24 hours of audio. It will also come with GPS, so you know where you are all the time.

8GB is available for $199 and 16GB will come in white for $299. Available on July 11th, pre-orders are available now at the Apple store.