So Apple fires the latest salvo in the mobile phone wars, a faster iPhone 3G called the iPhone 3GS where S stands for Speed.Although I'm not an iPhone user myself, it seems like Apple has added some nice touches to the phone and you can find out about the enhancements on ZDnet (Though I think some of the features like the digital compass are not much to crow about since it has already been implemented on the Android phones).

One noticeable announcement is the drop of the old iPhone 3G price. At a price of $99, Apple seems to have its sights on the mass-market mobile market, where the real money is. For all it's phenomenal sales, the sales volumes of the iPhone to date has hardly been a drop in the ocean compared to Nokia's overall mobile sales numbers. Those in the industry would tell you that the numbers for the mobile market really comes from the low-end mass-market models.

The iPhone 3GS will be available in 7 countries on June 19th for $199 (16GB) and $299 (32GB). Both come in black and white. The old 3G will continue to be available, but at a lower price-point: $99. All prices are for AT&T new and qualifying customers and may vary on other carriers.

The question remains whether existing iPhone owners would switch. But I think for those on the fence for the longest time, this launch, expected at the end of the month, might finally tip them over. If not, maybe the price dip in the old iPhone 3G might!