The Apple iPhone 4S, which we've been referring to as the iPhone 5, has arrived. Finally! We can all exhale. New Apple CEO Tim Cook, who took over Apple after Steve Jobs resigned, shared the newest iPhone and gave all of the exciting details at the Apple press event held at the company's Cupertino, California, headquarters today.

The new iPhone 4S looks just like the iPhone 4, and you can still get it in black or white. However, the interior is quite different. The LA Times live blogged the Apple Press event and shared the following details on the iPhone 4S:

• Dual-core A5 chip. The graphics will be seven times faster and the phone will be up to twice as fast as the iPhone 4.
• Better call quality. The iPhone 4S has a wireless system that switches between its two antennas
• Longer battery life. The battery life of the iPhone 4S allows 40 hours of music listening capability and eight hours of talk time.
• Faster. The iPhone 4 is not a 4G. However, Apple says it has similar download speeds and therefore, you'll be able to send and receive data much faster.
• Improved camera. The iPhone 4S has an 8 megapixel camera that can produce pictures with 3,264 x 2,448 pixels. It also has an improved sensor that will result in better photo quality. The video camera is better, too.

The price? Not too bad! The 16GB iPhone 4S is $199, the 32 GB is $299 and the 64 GB is $399. You can preorder your very own Apple iPhone 4S on Oct. 7 and it will be available on Oct. 14.

Tell us: Will your order a new iPhone 4S?