Look at New iPhone

The buzz has arrived. The new iPhone (8GB) will be $199. Engadget has spilled the details. There's also a video look at the phone, too. It's below.

Some of details are:

The phone's to be released on July 11.
There's 3G.
Runs 3rd party apps.
Internet 3G page load 36% faster than some other popular phones.
There's GPS.
16GB is $299, both 8GB and 16GB require contract.