Today, Apple will release its latest iPhone model, the iPhone 3G S. The new device is almost identical to its predecessor, but packs under-the-hood enhancements, such as a better processor, more memory, a better camera and a digital compass. All these features, as well as the original ones, go hand in hand with the recently released iPhone OS 3.0, to provide end users with a great experience.

“iPhone 3G S is the fastest, most powerful iPhone yet and we think people will love the incredible new features including autofocus camera, video recording and the freedom of voice control,” Philip Schiller, Apple’s senior vice president of Worldwide Product Marketing, said. With this announcement, Apple also dropped the price on the existing iPhone 3G to $99 for the 8GB model, calling the move “a huge milestone for the high-end smartphone market.”

“And with a breakthrough price of $99, we are thrilled to get iPhone 3G into the hands of even more users who want them,” Schiller added.

During the official unveiling of the new iPhone 3G S at WWDC '09, the company revealed that it would ship with iPhone OS 3.0. Touted by Apple as “the world’s most advanced mobile operating system,” the Mac maker enumerated over 100 new features, such as Cut, Copy and Paste, MMS (available later this year), Spotlight Search, landscape keyboard, a built-in digital compass for instant navigation, as well as built-in Nike + iPod support. The new iPhone 3G S also supports 7.2 Mbps HSDPA “for faster networking speeds.”

iPhone 3G S includes VoiceOver, an OS X-specific capability that provides new accessibility features. The function is described as a screen reader that speaks out on-screen text, “enabling visually impaired users to make calls, read email, browse web pages, play music and run applications,” Apple pinpointed.

Also, a “Find My iPhone” feature working across iPhone OS 3.0 and MobileMe lets users find their iPhone's whereabouts, wipe the device clean, or send a text message that immediately appears on the device's screen. Apple hopes the function will prove useful in the case of someone losing their iPhone, or in the case of theft.

iPhone 3G S comes in either a white or a black case. For $199, US customers can grab the 16GB model by signing a two-year contract with AT&T. In 32GB form, the iPhone 3G S costs $100 more ($299). Visit Apple here to learn more about iPhone 3G S.