In addition to faster Web surfing and downloads because it works over faster networks, key details of the next iPhone are:

- A much lower price. The 8GB model will sell for $199 and the 16GB will retail for $299.

- Built-in GPS functions for location-based services.

- A longer battery life and sleeker design.

- Metal buttons.

- Headphone jack compatible with third-party headphones.

- 5 hours talk time.

- Available in white and black

The new iPhone will go on sale July 11 and will cost the same in all countries.

Look for iPhoneGuide's comprehensive overview of today's annoucement shortly.

Adapted from MobileContentToday.