iPhone 5 Release Date: LIVE - The 'All New iPhone 4S' Launched - 7x Faster, All the Specs Here

"How do you follow up a product like the iPhone 4? I am pleased to announce the iPhone 4S," said Apple’s Phil Schiller at today’s Apple launch event in California. "Don't be fooled. Inside it is all new."

The new device, launched today at Apple’s headquarters, will have A5 CPU, Dual core graphics. 7X faster performance, and same retina display.

PC World’s Dan Costa blogged live from the event. He reported that Mike Capps, president of Epic games, took to the stage to show off the gaming potential of the iPhone 4S.

"Games like this can only play on an iPhone 4S. Why? Because it is Awesome", Capps said.

iPhone 4S battery will have 8 hours of 3G talk time. Regarding wireless connectivity, Schiller spoke about the antenna. "It can now intelligently switch between two antennas to improve call quality.”

The new technology will double download speeds as well.

“The iPhone 4S is just as fast as all these other 4G phones," said Schiller. “The new iPhone 4S will support both CDMA and GSM".

As for the camera, Schiller said, “You all know just how great the pictures you can take with an iPhone are.

“We didn’t just want to make it better than any other phone camera, we already did that. We wanted it to be better than point and shoots."

The camera will be 8MP, 3264x 2448, with five element lens, F2.4 aperture for better low light performance, and also include advanced face detection algorithms.

He boasted about the speed to first shot, saying it takes 1.1 seconds to the first shot, compared to 2 seconds for the Galaxy S2. "I don't know what Droid Bionic users do before they take a picture. Maybe go get coffee."

He went on: "The lack of distortion from corner to corner in the photo is amazing. You can get just what you want in a sunset photo. It takes stunning photos."

For video recording, “We use that same camera system to take great video. And for the first time it is in 1080p". It includes video image stabilization.

Schiller played a video shot with the iPhone 4S, and Dan Costa pointed out that “it looks fantastic.”

"For many customers this iPhone 4S will be the best video camera they have ever owned, and the best still camera they have ever owned," said Schiller.

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