Apple Inc. CEO Steve Jobs on Monday unveiled the new version of revolutionary iPhone, namely the iPhone 4 priced at $ 199 to $ 299 rental in USA along with a two year contract on AT&T network.

The new iPhone is mainly positioned around its high resolution screen and increased battery life. It is less than 100 millimeters thin. There is a 5 mega pixel camera on front to facilitate video-conferencing. The phone has a flash on the back.

While the display remains the same in size i.e. 3.5 inches (8.9 centimeters) diagonally, the screen can now show four times as many pixels as compared to previous version of iPhone i.e. iPhone 3.

The new version will also make use of Apple’s latest mobile phone operating system, iOS4.

Popular games such as Farmville and one application from Netflix come preloaded with the new version.