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Steve Jobs, who co-founded Apple Computer in 1976, died one day after Apple announced its new iPhone. He was 56 years old.

The Apple home page replaced its image of the newly announced iPhone 4S with a picture of Jobs and this message:

"Steve Jobs 1955-2011. Apple has lost a visionary and creative genius, and the world has lost an amazing human being. those of us who have been fortunate enough to know and work with Steve have lost a dear friend and an inspiring mentor. Steve leaves behind a company that only he could have built, and his spirit will forever be the foundation of Apple."

Apple's board of directors also released a statement:

"We are deeply saddened to announce that Steve Jobs passed away today. Steve's brilliance, passion and energy were the source of countless innovations that enrich and improve all of our lives. The world is immeasurably better because of Steve. His greatest love was for his wife, Laurene, and his family. Our hearts go out to them and to all who were touched by his extraordinary gifts."

The new iPhone that Apple announced yesterday impressed some and disappointed others. Though not everyone was satisfied, the new iPhone 4S will hit the streets with a number of impressive, exclusive features. While the list of new features is long, those most touted by Apple are the new iPhone's speed improvements, hence the "S" moniker, for speed. What many customers don't realize is that a one of the main speed improvements in the iPhone 4S won't apply to Verizon and Sprint customers.

As Apple informed us at yesterday's keynote, 3G data download speeds on the iPhone 4S are up to twice as fast as the iPhone 4. This is a result of the fact that the iPhone 4S is capable of HSDPA download speeds up to 14.4Mbps, while the iPhone 4 has a max of 7.2Mbps. The important thing to note here is that Verizon and Sprint are not HSDPA networks. The iPhone 4S will run on CDMA on Sprint and Verizon, not HSDPA, and thus will have the same download speed capability as the iPhone 4.

The iPhone 4S is not the "highly-anticipated" iPhone Apple fans were waiting for. It's safe to assume many fanboys were disappointed by Tim Cook's announcement, but Apple is sticking to its claim that this is the "most amazing iPhone yet." It didn't deliver a new "teardrop" design, or many of the other features we were promised, but it does have the rumored 8 megapixel camera and A5 chip. Hate it, love it or just don't care, here's a list of all the specifications and features for the new iPhone 4S.

Apple just announced at today's Apple "Let's Talk iPhone" event that iOS 5 will be a free update available to all users come October 12th. iPhone and iPad owners have been long awaiting the release of iOS 5 since its announcement earlier this year. The iOS has been through multiple beta releases with Apple's iOS developer community and is now ready for release.

Apple has basically been reviewing iOS 5 features and has yet to make an announcement regarding what version of a new iPhone will be released. Rumors from earlier this morning suggest that Apple will not be releasing an iPhone 5 today, but will instead be releasing only the iPhone 4S.

Rumors of a Sprint iPhone have been flying around lately, but now the Wall Street Journal reports that the company has literally bet its future on the device. Apple's terms require Sprint to purchase at least 30.5 million iPhones over the next four years at a cost of $20 billion. The company has been struggling for years and its stock has lost 80 percent of its value since the first iPhone was sold.

Sprint will be losing money on the proposition until at least 2014. The wireless carrier doesn't have much to lose considering it has been losing subscribers since its 2005 merger with Nextel. Sprint has half of the subscribers that Verizon and AT&T have and roughly 40 percent of these customers are pay-as-you-go.