iPhone 4S set to launch Oct. 14 on AT&T, Verizon and Sprint

Updated 3:28 p.m.

Apple today announced the newest generation of its iPhone, officially dubbed the iPhone 4S.

The device will maintain the design of the iPhone 4, but will come with a processor twice as fast as the iPhone 4, a graphics processor seven times as fast as the iPhone 4, and a highly upgraded camera that takes fully HD 1080p video. The iPhone 4S will be available Oct. 14 on AT&T, Verizon and Sprint. Prices will start at $199 for 16GB of storage; $299 for 32GB; and $399 for 64GB.

Read more: Do you really need the iPhone 4S? Click here for our breakdown of whether you should buy it.

The biggest new feature announced is Siri, an artificial-intelligence voice assistant that performs tasks simply by the user speaking to it.

Scott Forestall, who runs Apple's iOS team, demonstrated Siri, asking question such as, "Do I need a raincoat today"? to which it replied, "It sure looks like rain today." Siri also lets users search Wikipedia just by asking, set up appointments through voice commands, and get directions.

Apple also announced iOS 5, the next generation of its mobile operating system, which will be available for a free upgrade Oct. 12 for iPhone 4, 3GS, iPad 2 and the most recent iPod touches.

The iPhone's previous models will see big price drops, with the two-generations-old iPhone 3GS now free with a two-year contract, and the iPhone 4 now $99 with a two-year contract. Both models will have 8GB of storage.

This story is developing, follow us on Twitter for updates: amNewYork.