Yesterday, the highly anticipated Apple Worldwide Developers Conference (WWDC) finally started and along with it came the new iPhone. This version is said to be faster and cheaper, as the problems that users have complained about with the existing models mainly focused on the device’s slow Internet browsing and high price.

Apple’s event had about 5,200 attendees.

According to CEO Steve Jobs, the new 3G-based model is no less than 36% faster than Nokia's N95.

Two versions of the smartphone will be released: the 8-gigabyte iPhone will go for $199 and the 16-gigabyte model will cost $299 (keep in mind the fact that the current versions’ price tags read $399 and $499).

The smartphone’s battery life performance was also mentioned: it should easily cover five hours of 3G talk time or 3G Internet time, ten hours of 2G talk time and a 12.5 day period in standby.

During the event, several new iPhone applications were introduced as well: a wireless system that can automatically forward emails to other devices, Loopt – a service that can be used for finding friends, a special software for mobile blogging and Cow Terry – software that can be used by customers for creating music on their phones.

All in all, this new version is definitely a step up and iPhone fans should be quite happy with Apple’s release.