Apple unveils its new and improved fourth generation iPhone...

NBCNC -- Apple's latest iPhone has arrived.

Calling it "the biggest leap since the original iPhone", Apple CEO Steve Jobs introduced the iPhone 4 Monday at Apple's annual conference for software developers.

The device has a higher-resolution screen and a front-facing camera.

It also has a gyroscope which will allow for precise motion detection and HD video recording capability.

The iPhone 4 will be priced at $199 for a 16gb model and $299 for a 32gb model.

It will go on sale June 24.