Apple unveils the iPhone 4S [VIDEO]

iPhone 4s Video

Apple has put an end to weeks of speculation by unveiling its slimmed-down, faster version of the iPhone 4, which it has called the iPhone 4S.

Tim Cook, Apple’s chief executive, unveiled the handset on Tuesday at an invitation-only event at the company’s Cupertino headquarters. The announcement marks the first time the 50-year-old CEO introduced a new product since Steve Jobs resigned in August.

The new phone, which looks identical to the iPhone 4, will cost between $199 and $399 in the U.S. and will come in black or white. It has a better camera with an 8-megapixel sensor and sports the same A5 chip found in the iPad 2, which runs about twice as fast as the old A4 in the iPhone 4, as well as seven times faster graphics. Pre-orders will begin Friday with availability on October 14.

Yes, the iPhone 4S has some impressive upgrades, but the device got disappointing comments on various social networking sites about the lack of a design change. Many were also disappointed the company didn’t unveil a new iPhone 5.

Apple also announced a slate of updates to the iPod Nano and iPod Touch, and unveiled the latest update to its mobile software, iOS 5. It will become available on October 12 and offers hundreds of new features.

Check out this video of Apple showcasing the iPhone 4S.