Apple iPhone 3G S: Video, better battery

Two days after the Palm Pre went on sale to take on the Apple iPhone 3G, Apple introduced a new phone and cut the price of its current phone.

The new iPhone is called 3G S, Apple said today. Apple (AAPL) dropped the price of the current 3G 8-gigabyte phone to $99 from $199 with an AT&T service contract. That's $100 less than the Palm (PALM) Pre.

The new iPhone, which goes on sale June 19, will cost $199 for a 16-gigabyte version and $299 for a 32-gigabyte version. Added features include a three mega-pixel camera that allows users to record and edit video. The new phone also adds voice dialing and a compass.

The other big Apple news: Steve Jobs did not appear at today's Apple event, as some had hoped or speculated.