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Up first, there’s a new iPhone in town. And not only does the latest cell from Apple feature a faster network than the current model, but the company chose to chop down the price of its 8-gigabyte phone to 199. While many Apple followers have been anticipating the latest release for months, CEO Steve Jobs announced Monday at the company’s annual World Wide Developers conference in San Francisco that the company will launch its newest 3-G iPhone July 11th. Jobs said the new model is 36-percent faster than top rival Nokia’s N-95 smartphone. The iPhone also features 6-hours of web-browsing, 5-hours of talk time and several new data service applications. The company reports it has sold about 6-million iPhones since its introduction last year and it hopes to sell 10-million worldwide this year. Apple stock dropped 4-percent because of the announcement, after the shares had been up 55-percent in the past 3-months. Some people are saying they were expecting more options on the iPhone, including a video chat feature, but because of the slugglish economy, Apple chose to hold off on launching a completely new and improved handset. The current economic situation continues to also be a

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