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Apple unveils new iPhone model


New version features 16-gigabytes of memory; new iPod touch also added to lineup.

Apple added new models of the iPhone and iPod touch Tuesday that double the memory capacity of earlier models.

The new 16-gigabyte (GB) iPhone will sell for $499, and the 8GB model will remain at its $399 price.

Similarly, the iPod touch will be offered in a 32GB model for $499. Apple will continue to sell the 16GB and 8GB models for $399 and $299 respectively.

Apple (AAPL, Fortune 500) shares edged higher in pre-market trading.

"For some users, there's never enough memory," Greg Joswiak, Apple's vice president of worldwide iPod and iPhone product marketing, said in a statement.

"Now people can enjoy even more of their music, photos and videos on the most revolutionary mobile phone and best Wi-Fi mobile device in the world," he said. To top of page

-- excerpt from Money.cnn