US consumer electronics firm Apple has lifted the lid on its iPhone device, which had previously been subject to feverish speculation over whether it even existed.
The iPod manufacturer unveiled the device in San Francisco yesterday, claiming its new product "redefines" the mobile phone.
The iPhone combines the traditional functions of a mobile phone with a 3.5in widescreen iPod, a Wi-Fi internet hub and a two megapixel camera.
As with its market-leading MP3 player, the device employs touch screen technology, but also includes motion sensitive capabilities.
Apple chief executive Steve Jobs last night claimed that the iPhone is "literally five years ahead of any mobile phone".
"We are all born with the ultimate pointing device - our fingers - and iPhone uses them to create the most revolutionary user interface since the mouse," he said.
The iPhone will go on sale in the US in June priced at $499 (£257) and $599 (£309) for the 4GB and 8GB versions respectively, with the device being released in Europe before the close of 2007.
Shares in Apple, which has rebranded itself from its original Apple Computer name to reflect its consumer electronics focus, closed at eight per cent higher after last night's unveiling, while rivals such as Blackberry manufacturer RIM saw shares fall.
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