Successor to the iPhone 4. Specs include the following:
Apple A5 processor - the same processor used in the iPad 2, which Apple says will make the iPhone 4S about twice as fast as the iPhone 4
New dual-core graphics chip, which Apple touts as up to 7 times faster the iPhone 4
GSM and CDMA compatibility in a single phone, meaning that the same phone will work on both kinds of networks
Two antennas which work independently, to improve call quality and reliability
Improved data speed, at up to 14.4 Mbps download (HSDPA)
8 megapixel camera, with improved color fidelity and sharpness, better whites, a new light sensor, faster speed in taking both the first photo and subsequent ones
1080p HD video recording with image stabilization