9:42am - "Well today, we're introducing THREE revolutionary new products.
The first one is a widescreen ipod with touch controls" The crowd goes wild. "The second is a revolutinoary new mobile phone."
9:43am - "And the third is a breakthrough internet communications device." Tepid response on that last one, but he almost got a standing ovation on the phone. '
"An iPod, a phone, an internet mobile communicator. An iPod, a phone, an internet mobile communicator.... these are NOT three separate devices!"
"And we are calling it iPhone!"
"Today Apple is going to reinvent the phone. And here it is..." It's a gag image, cheers.
9:44am - "Before we get into it, let me talk about a category of things ... the most advanced phones are called smartphones. They typically involve a phone, have plastic little keyboards on them, the problem is they're not so smart and they're not so easy to use. If you make a biz school 101 graph, cellphones are at the bottom... smartphones are a little smarter, but they're harder to use."
9:45am - "We don't want to make either one of these things -- we want to make a leapfrog product, smart and easy to use. This is what iPhone is." How the hell are they calling it iPhone, now? Linksys? Cisco?
9:46am - A revolutionary UI, the result of years of development -- the result of years of development." Shows Q, Treo, E62, BlackBerry."
9:47am - "The problem is really in the bottom 40% -- keyboards that are there whether you need them or not. They have control buttons that are fixed in plastic. Every app wants a different button. You can't add new buttons. How do you solve this problem? We solved this problem -- we solved it in computers 20 years ago. A bitmap screen that can display anything we want -- with a pointing device."
"So how are we going to take this to a mobile device? Get rid of all the buttons, and just make a giant screen. So how are we going to communicate? We're going to use a stylus -- no. Who wants a stylus?? Yuck!"
9:48am - "So let's not use a stylus, we're going to use the best pointing device in the world -- our fingers. We have invented a new technology called multi-tuch. It works like magic, you don't need a stylus, far more accurate than any interface ever shipped, it ignores touches, mutli-finger gestures, and BOY have we patented it!
9:49am - "We have been very lucky to have brought a few revolutionary user interfaces to the market -- the mouse, the click wheel, and now Multi-Touch. Each has made possible a revolutionary product, the Mac, the iPod, and now the iPhone. We're going to build on top of that with software. Software on mobile phones is like baby-software. Today we're going to show you a software breakthrough. Software that's 5-years ahead of what's on any other phone."
"iPhone runs OS X!"
Huge cheers. "Why would we want to run such a sophisticated OS on a mobile device? It's got everything we need. Mulittasking, networking, power management, graphics, security, video, graphics, audio core animation..."
"9:51am - It let us create desktop class applications and networking, not the cripled stuff you find on most phones, these are real desktop applications." He's quoting Alan Kay -"People who are really serious about software should make their own hardware." "So we're bringing breakthrough software to a mobile device for the first time."
"The second thing we're doing is we've learned from the iPod, it syncs with iTunes. People know how to sync all their media with their iPod. iTunes is going to sync all your media to your iPhone -- but also a ton of data. Contacts, calendars, photos, notes, bookmarks, email accounts..."
9:52am - "We do that through iTunes." It shows 8GB on the screen.
9:52 - "The third thing -- I want to talk a little about design. We've designed something wonderful." 3.5-inch screen, highest resolution screen we've ever shipped, 160ppi. There's only one button, the "home" button.
"It's really thin, thinner than any smartphone. 11.6mm, thinner than the Q and the BlackJack, all of them. Ring and silent, volume up and down."
9:53am - "We have a 2 megapixel camera built right in, let's take a look at the top. A headset jack, 3.5mm, SIM tray, and a sleep-wake switch. Let's look at the bottom, we've got a speaker, mic input, and an iPod connector."
9:54am - We've also got some stuff you can't see -- 3 advanced sensors. It's got a proximity sensor, bring the iPhone to your ear and your display shuts off and toushccreen shuts down. Ambient light sensor -- adjusts brightness, saves power. Third thing is an accellerometer, it can tell whether you're in landscape and portraid. Let's turn it on."
Cingular.
9:55am - "Let's start with the iPod. You can touch your music. Widescreen video, you can find your music faster, gorgeous album art, bilt-in speaker, CoverFlow, why not?"
"Let me show it to you.." Demo time!
9:56am - iPhone is up on screen. He's got digital video running out. He's starting the power on, and has a gesture.
Unlocks the phone by sliding finger across -- something you can't do by accident in your pocket.
9:57am - "Here's the home screen -- simple icons. Push this icon -- boom, I'm in the iPod. How do i scroll through my list of artists? I just take my finger and I just scroll." Loud cheers, people are starting to lose it a little. He's picked the Beatles... a sign of things to come?
9:58am - Everything is totally touch, big shiny icons. "I turn my unit landscape mode, and look what happens! "it goes into CoverFlow... not the fastest scrolling. We wouldn't exactly say it scrolls like butter -- but close.
9:59am -"I just pick something and play something -- it's that easy." Plays more. "It's that simple, isn't that great?"
"Alright, I can play with this for a long time." You have been, over two years you say?
"I've also got audiobooks, I've videos. I've got TV shows and movies, this is an episode from the Office..."
10:01am - Touch play control overlays... it looks really good. You can drop into widescreen or pan and scan mode. "Again, on-screen controls, is this cool?"
10:02 - "So that is the iPhone. Pretty cool, huh? We've just started. So again, touch your music, scroll through your songs and your music. "
10:03am - "It's unbelievable. Here's some album art... no matter what you like, it looks pretty doggone gorgeous. ... with onscreen controls. I was giving the demo to someone a little while ago, and I finished the demo and I said what do you think? They said 'You had me at scrolling.'"
iPhone is a widescreen iPod with touch controls that lets you enjoy all your content — including music, audiobooks, videos, TV shows, and movies — on a beautiful 3.5-inch widescreen display. It also lets you sync your content from the iTunes library on your PC or Mac. And then you can access it all with just the touch of a finger.
By the end of this year, the contents of all 1,800 courses taught at one of the world's most prestigious universities will be available online to anyone in the world, anywhere in the world. Learners won't have to register for the classes, and everyone is accepted.
The 
Nike is launching a print campaign for its ACG winter clothing range that uses sculpture to physically represent the fluid movement of professional snowboarders and skiers.
