1:55PM It's up to 2x faster than before, with dual-core graphics, which are said to be seven times faster than previous iPhone.

1:55PM It has the A5 chip!

1:55PM "Of course it starts with a Retina display, of course it's glass on the back... but don't be deceived, because inside it's all new."

1:54PM "I'm really pleased to tell you today about the brand new iPhone 4S."

1:54PM Phil's reminding us it's #1 in the world...

1:54PM "Despite competitors trying really hard to copy the iPhone 4, they haven't really been able to come close."

1:54PM Next: iPhone.

1:53PM "So that's iPod, and the iPod lineup. We love music, and we're going to continue making the world's best music players."

1:53PM 8GB is now $199, 32GB for $299, 64GB for $399. Available on october 12th.

1:52PM There's a white version coming! "It's gorgeous."

1:52PM "Wherever you are, this amazingly thin iPod can have access to all of your music, all of your books."

1:52PM "iOS 5 is a tremendous upgrade for the iPod touch, and so is iCloud."

1:51PM And, of course, it's running iOS 5. Phil is talking about how iMessage changes the way people use that device.

1:51PM Now talking iPod touch. Phil is reminding us that it's the most popular portable gaming device.

1:51PM Price drop!

1:50PM $149 for 16GB and $129 for 8GB.

1:50PM There's a Mickey Mouse watch, too. More applause, applause for Mickey.

1:50PM Some cool ones, roman numerals, classic LCD style, color-coordinated with the shell.

1:49PM Phil's talking about watch accessories, "we thought that was really fun." So, there are 16 new clock faces. "Why not, right?"