Apple says that the new iPhone 3G S is twice as fast as iPhone 3G thanks to built-in support for 7.2 Mbps HSDPA, letting you render web pages quicker and launch applications faster. The handset takes advantage of the OpenGL ES 2.0 standard for high-quality 3D graphics, making mobile gaming and other graphic intense applications more enjoyable than before. Therefore the “S” in the name stands for speed. The new device introduces a significant number of new software features, supported by a significant number of hardware specifications changes, that however were somewhat kept silent.

Apple is working to keep attention on the iPhone’s software, without any mention of the make or specification of its internals. The iPhone 3G S focuses on hardware performance improvements with a faster general purpose ARM and PowerVR graphics processor cores and increase in its internal RAM from 128MB to 256MB. Even if Apple has kept the internal specifications of the iPhone hidden, they won’t be secret for long once the device goes on sale.

For marketing reasons Apple focuses on the unique software capabilities of the iPhone, including its ability to run the 50,000 titles on the App Store, which are more important sale points than the hardware specifications.

“iPhone 3G S is the fastest, most powerful iPhone yet and we think people will love the incredible new features including autofocus camera, video recording and the freedom of voice control,” said Philip Schiller, Apple’s senior vice president of Worldwide Product Marketing. “And with a breakthrough price of $99, we are thrilled to get iPhone 3G into the hands of even more users who want them.” Apple also achieved a longer battery life even with the added horsepower, so you can watch more videos, listen to more music, browse the Internet and use your favorite iPhone Native Apps longer.

During its presentation at WWDC Monday, Apple highlighted new pricing for the iPhone 3G and the upcoming iPhone 3G S model but apparently existing iPhone 3G customers will have to pay a $200 premium to upgrade to the latest model if they want one right away. iPhone 3G S is priced $199 for the 16GB model and $299 for the 32GB model: current users who bought their iPhone 3G shortly after its launch last year will have to wait a year from their iPhone 3G purchase date to qualify for the new price.

Here is the Apple Guided Tour for the new iPhone.