As expected, Apple has unveiled a new version of the iPhone at its Worldwide Developers Conference today. Officially known as the iPhone 3G S, the design of the device won't change much from its predecessor, but it's what's on the inside that matters. This version sports a faster processor, longer battery life, improved camera with video recording, and a digital compass. It also comes with larger capacities, going all the way to 32GB.

Although it lacks the often rumored front facing camera, squashing hopes for video calls as a result, the new iPhone does have a 3 megapixel camera with auto focus, auto white balance, auto exposure, and a nifty tap to focus feature. Additionally, the camera is capable of recording 640x480 resolution video at 30fps with audio, allowing some basic editing as well in a similar fashion to iMovie.

The new iPhone will also be able to access 3G data connections of up to 7.2 Mbps, where available, and support a number of new features like built-in hardware encryption for data security and integration between the digital compass and mapping applications to automatically orient the map to the direction the user is facing. Apple added built in voice control as well to start calls, find songs, and other information on the phone.

The iPhone 3GS will run the upcoming 3.0 software and should be available June 19 in 16GB and 32GB flavors for $199 and $299 respectively. Those who don’t find these updates enticing enough may be interested to know that the current 8GB iPhone 3G will remain available for $99 with a two-year contract.