February 6, 2008 Apple has announced updated iPhone and iPod touch models with double the memory. The iPhone is now available with a 16GB memory and the iPod touch has been upped to 32GB.

The news follows the recent release of a free software update for iPhone that includes a redesigned Maps application, multiple text messaging capabilities, Web Clip creation features and the ability to and watch movies rented from iTunes® Movie Rentals on iPhone handsets.

The new 16GB iPhone is priced at USD$499, joining the 8GB model which costs $399.

The new 32GB iPod touch is available for USD$499 with the 16GB model at $399 and the 8GB model at $299.