Most of the news sites and blogophere are going crazy over the release of the much anticipated iPhone. Steve Jobs,CEO of apple inc. proudly announced a revolution in mobile phone technology as he would put it. After the official press release of iPhone by Job’s, Apple inc. stocks soared as you could very well imagine.

There has been many rumors going on about features one would expect from a phone designed by the company that brought us the revolutionary iPod.Apple being the tech giant it is, certainly kept it a secret by providing misleading prototypes to employees and even service carriers.

Steve’s new love,iPhone does resemble iPod in size and shape but thats just about the only similarity. iPhone comes with features that would blow your mind, especially if you are a diehard Mac/iPod fan. What better way to spend my spare time than to help my readers get the inside scoop. Here are the features you could look forward to when you are in line to get yourself one of these at your local apple store.

»Includes a new input technology called “Multi-Touch” the iPhone features only a single physical button, called “home”. You control the phone by sliding a finger across its touch-sensitive 3.5-inch display, which has a resolution of 320-by-480 pixels at 160 pixels-per-inch display.

»The 0.46-inch (11.6-millimeter) thick device weighs 4.8 ounces (135 grams) and sports a 2-megapixel camera, volume control, ring-silent switch, 3.5-millimeter headset/audio jack, SIM tray, “sleep-wake” switch, speaker, microphone, and a 30-pin iPod dock connector.

»The quad-band GSM (850MHz, 900MHz, 1800MHz, and 1900MHz) + EDGE phone also has 802.11b/g Wi-Fi and Bluetooth 2.0 capabilities. Steve Job noted 3G capabilities will come in the future.

»iPhone uses its Wi-Fi and EDGE capabilities to automatically connect to the Internet. Internet connectivity includes HTML-capable e-mail that works with any IMAP or POP3 e-mail service.

The iPhone will come in two versions: a 4GB, $499 model and an 8GB, $599 model. Both will require a two-year contract with Cingular, the exclusive U.S. carrier. Both models will be available beginning in June from Apple Stores and from Cingular. That price will surely leave your wallet pretty much empty unless your one of the lucky few with millions to spare.

Apple has only recently filed a patent for a new cell phone concept.There has been many reports regarding apple’s desire to expand to the mobile phone industry.All though it is a late entrance,its launch would be strategic as it would be a step ahead of microsoft. 

The new concept enhances the IPod which already dominates the MP3 player market.Apple would definitely face much stronger competition in the cell phone industy.If not for further innovations such as this from Apple in the media player market it could possibly face loss in market share.

Consumers can expect the much anticipated Iphone available for sale early next year.Iphone has been said to cost something close to $300.