Apple has unveiled the latest version of its iPhone pocket computer. Many were expecting the release of an all-new iPhone 5 but the California company settled on an upgrade of its current model.

Everything Apple is news (the brand, launched by Steve Jobs, is now valued at an estimated $33.5 billion, top ten in the world, according to an ad agency) and interest seems to have caused Apple.com to crash as of around 3PM ET today.

But the iPhone 4S is basically just a faster iPhone 4 that contains an Intel A5 chip like the iPad. Its camera will be an 8-megapixel point-n-click, up from 5-megapixels in the current model. The new model further integrates the voice-recognition technology by Siri, a company Apple acquired, which lets users ask direct questions into their phones. Siri has been available as an app and is positioned to be a virtual "personal assistant."

The iPhone 4S will be available on Sprint, not just AT&T and Verizon and will cost between $199 for the 8GB up to $399 for the 64 GB top-end model. The iPhone 4's price will drop to just $99. The next iPhone will be available in stores on October 14.

Another big development during new CEO Tim Cook's (pictured here from another event) pitch was the upcoming iCloud, which will let users synch their media files through the cloud, rather than by plugging the devices into a computer.

So Apple fan boys in Maine--do you find it disappointing that there is no iPhone 5? React below or share your thoughts with @theExceptionMag on Twitter.

Sources include Business Insider and BusinessWeek