Apple has launched new i Phone

Apple Inc has unveiled a speedier iPhone, but contrary to rumour its convalescing Chief Executive Steve Jobs did not make an appearance.The new iPhone 3GS is twice as fast as its predecessor, and features an improved digital camera and a new service that lets users locate their phones if they have been lost or stolen.

The 3GS will cost $199 for 16 GB of memory, and $299 for 32 GB of memory. The existing iPhone 3G will get an immediate price cut to $99.