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The phone will come in two colors -- black and white -- and will go on sale June 24 in the United States and four other countries. It will cost $199 for 16GB of storage and $299 for 32GB.
Jobs said iPhone 4 will be "the thinnest smartphone on the planet" at 9.3 mm thick -- 24 percent thinner than the iPhone 3GS, the company's current model. It's been designed with a glass back and metal around the sides.
The device will have a front-facing camera for video conferencing, and the camera on the back will have an LED flash, Jobs said. The phone will have a 5 megapixel camera with a backside illuminated sensor, which he said is fairly new to smartphones. It also will have a 5X digital zoom.
Jobs drew perhaps his wildest cheers when he used the new phone to conduct a video chat with an Apple staffer using a feature he called FaceTime. The feature will work seamlessly between iPhone 4s anywhere there is a Wi-Fi connection, he said.
"This is our new baby," he said of the phone. "I hope you love it as much as we do."
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