The new iPod

Apple's next generation iPod was unveiled today: it costs $499 and $599 for the 40 GB and 60 GB models, respectively. The larger one holds 25,000 wallet-sized photos that can be displayed on a TV by cable or up to 15,000 songs -- these can be combined using iPod Photo to create slideshows.

The slogan Mr. Jobs chose for the new device was "all of your songs and photos in your pocket."

Apple is taking a different tack than others in the digital memory market:

In focusing on still pictures, Mr. Jobs showed he was moving in a direction different from competitors in the consumer electronics industry, which have been adding video capabilities to hand-held devices. Mr. Jobs disagreed that video was a must-have feature in new devices. "Our competitors are saying it's video," he said, "but they're too big to fit in your pocket."

Apple also introduced the new Black iPod featured in their U2 commercial; it costs $349.