Apple recently announced it’s new iPhone 3G which is thinner, is much faster (no longer EDGE), has more features, and is a lot cheaper than the first version almost a year ago. The new iPhone is to be available on July 11th and plans to launch in 70 countries this year, with the black 8GB going for $199 and the 16GB for $299 in black or white.

Should you buy the new one and ditch the old one? Well, for starters, one of the biggest complaints using a mobile phone is its lack of speed when browsing the web. With the new iPhone, you get 3G browsing speed, which is much faster than the slower EDGE connectivity, and makes the page load is up to 2.8 times faster.

The most attractive part is the price, obviously. Apple figured since 50 percent of people surveyed didn’t buy an iPhone before due to its big price tag ($599 and $699), they dropped the price this time and the 8GB iPhone is one-third the price that the 4GB iPhone sold for at launch last year. The 16GB iPhone will sell for $299. These new prices will hopefully reach out to more consumers than ever before, according to Apple.

More details coming soon.