[Apple iPhone5 release live]Apple iPhone 4S has an aperture of f/2.4

The new camera has an 8 megapixel sensor. That's 3264 x 2448 for you pixel counters out there. That means you can print out an 8 x 10 photo, said Schiller.

The new sensor is 33% faster at taking photos, he said, addressing one common complaint about the iPhone camera

The lens has five elements, he said, that makes the photos sharper. And it has an aperture of f/2.4 -- helpful for taking photos in low-light settings like Apple keynotes.

The Droid Bionic takes 3.7 seconds to take a first photo, while the iPhone 4S takes 1.1 seconds, he said.

Bionic users have to "go get coffee" in between taking pictures. Photo buffs may well be drawn to many of these features -- Apple is making a play to turn the iPhone 4S into the new walk-around camera.

Schiller is showing off some impressive photos taken with the 4S, which includes several which have SLR-like depth of field effects, and the ability to stop motion.

The new iPhone will record 1080p HD video, and includes image stabilization features.

Airplay is Apple's system for streaming media to different devices, such as AppleTV. The iPhone 4S, like the iPad 2, will have "Airplay Mirroring," which allows you to show exactly what you're seeing on the phone screen on a big-screen TV via an Apple TV.

The iPhone 4S is "the most amazing iPhone yet" -- he said. And there is one more thing about it ... voice control.

"What we really want to do is just talk to our device," he said. Now Schiller is introducing "Siri," -- the "intelligent assistant that helps you get things done just by asking."

Last year, Apple bought a start-up called Siri that was working on these features. This is the first time Apple is showing off what it hopes to do with its technology.

Scott Forstall is back on stage demo-ing Siri, which he says is a dangerous thing to do for voice activated software in front of a group of journalists.

Forstall presses and holds the home button on the iPhone and asks his phone what the weather will be like, and it pop ups up the weather. He then asked it "Do I need a raincoat today?" Siri answers: "It sure looks like rain today."

iPhone 4S supports GSM and CDMA

The iPhone 4 came in two flavors -- GSM and CDMA -- depending on the carrier. But the iPhone 4S is a world phone, and will work on both networks. This system will benefit people who travel around the world -- and want to switch wireless carriers.

Apple iPhone 4S will feature Apple's A5 chip

Now he is introducing the "iPhone 4S." There's tepid applause from an audience expecting an iPhone 5.

The 4S will feature Apple's A5 chip, used in the iPad 2. The new chip will help a lot with games, said Schiller. Now he invited Mike Capps, the president of Epic Games, on stage.

Capps is giving a demo of a new game with some impressive graphics.Now the big question is: After the iPhone 4S introduction, will there be "one more thing" in the form of an iPhone 5?

[“Let's talk iPhone” Live] White itouch - $ 299 for 32GB and $ 399 for 64GB

White itouch - $ 299 for 32GB and $ 399 for 64GB

[Apple iPhone5 release]“Let's talk iPhone” Live

There are more than 200 new features that come with iOS 5, he said -- and it will work on models going back to the iPhone 3GS. It will be available on October 12. Set your download schedules, folks!

Scott Forstall photo from WSJ

Next up on stage is Eddy Cue, Apple's senior VP of Internet software and services. He's giving a demo of Apple's iCloud service -- also already introduced this summer.

We're a half-hour into the presentation, and so far we've heard very little about what is new. The biggest news is the release date for iOS 5.

Cue is now giving a demo for how iCloud works. Beyond syncing of iTunes purchases, Apple has built "the cloud" into the iPhone's camera app, allowing you to sync them up between different devices through something called "photo stream."

Amazon, which has its own cloud offering, was actually one of the first companies to introduce these sorts of cloud-syncing services to consumers at a mass level. Since 2007, Amazon's "whisper sync" service for the Kindle has automatically managed e-book...

iOS5 also updated the camera program, can shoot button!!!

As Forstall shows off iOS 5 features, on screen he is using a photo of what looks like an iPhone 4. Is that a signal of what is to come later?

Live blogging has changed the nature of these presentations -- most of the reporters in the room are looking down at their computer screens, not up at Forstall.

Forstall is still reviewing previously announced features in iOS 5 -- now he's on to Safari, Apple's browser, which now features tabs.

[Apple iPhone5 release] [Let's talk iPhone]Cook's speech(2)

Apple now has sold more than 300 million iPods around the world, said Cook. It took Sony 30 years to sell 220,000 Walkman cassette players.

The mp3 market is a "mature market," he said, but it is still an important one for Apple.Cook is making the argument that many people are still buying their first iPods -- and being introduced to Apple.

Cook is modeling his presentation after Jobs' past showman style -- highlighting how Apple is accomplishing seemingly impossible feats faster than any company before. He even has much of Jobs' cadence in his voice.

In the second calendar quarter iPhones grew 125% -- far outpacing the rest of the smartphone industry, he said. And 94% of the Fortune 500 are testing the iPhone these days, he said.

The iPhone has 5% of worldwide share in mobile phones -- "we believe over time that all handsets become smartphones." The market is 1.5 billion units annually -- "an enormous opportunity for Apple," he said.

Again, like in Jobs' past keynotes, Cook is showing photos of happy iPad customers, and highlighting how the device is helping people learn in "amazing" new ways. Part of the showman sales pitch is that everyone loves Apple products -- even kids!

Cook has a slight Southern drawl when he speaks, which some might even say is more soothing than Jobs' more nasal speaking voice.pic from WSJ

[Apple iPhone5 release] Cook's speech

Cook said he is now going to walk through an update on each of the company's product lines. He's starting with the Mac.

Apple OSX Lion has been downloaded over 6 million times, said Cook -- 80% more than previous release, Snow Leopard. It took Windows 7 about 20 weeks to reach 10% of their install base, he said, but Lion did this in 2 weeks.

And in the U.S., Apple's marketshare among U.S. retailers is 23%, said Cook. "We have an incredibly high ceiling here -- we have a lot to go," said Cook.

[Apple iPhone5 release]Reporters have already entered the venue

Today's event is intimate compared to past Apple product launches, which often take place in giant venues in downtown San Francisco.

9:59 am An announcer said the event is about to begin, and asks everyone to switch their electronic devices to silent mode.

iPhone 4S picture was posted on the official website of Apple

October 5 news, now, Apple has been on the official website of the official sign out iPhone 4S pictures, black and white points, and in appearance no different with the iPhone 4.

[Apple iPhone5 news]“Let's talk iPhone” Reporters badge

iPhone 5 Possible Release Today,This is a Reporters badge!

iPhone 5 protective shell and then exposed

Foxconn reveal the real machine? iPhone 5 protective shell and then exposed

Reporters are ready to enter the venue of the 'Lets Talk iPhone'‎

Reporters are ready to enter the venue of the 'Lets Talk iPhone'