Apple unveils iPhone 3G

CUPERTINO, Calif., June 9 (UPI) -- Apple Inc. unveiled its next generation iPhone Monday, saying it provides faster Internet access and e-mail service than its predecessor.

The iPhone 3G "is twice as fast at half the price," Apple Chief Executive Officer Steve Jobs said in a statement.

The new phone supports Microsoft Exchange ActiveSync "right out of the box," Jobs said.

The phone can also "makes it easier to multitask with simultaneous voice and data communications," the company release said, allowing users to talk on the phone and receive or send e-mail at the same time.

Additionally, the phone's software allows for real-time mapping, access to a scientific calculator and parental control options to keep children from accessing certain material.

But, how cool is it? Analysts say a lot is riding on how well the phone does.

"Apple's stock is going to go where the iPhone goes," said Andy Hargreaves, a research analyst with Pacific Crest Securities.

For Apple, "it's the new growth driver," Hargreaves said.