The iPhone, which will start at $499 when it launches in June, is controlled by touch, plays music, surfs the Internet and runs the 
Macintosh computer operating system. Jobs said it will "reinvent" wireless communications and "leapfrog" past the current generation of smart phones.
"Every once in a while a revolutionary product comes along that changes everything," he said during his keynote address at the annual Macworld Conference and Expo. "It's very fortunate if you can work on just one of these in your career. ... Apple's been very fortunate in that it's introduced a few of these."
He said the company's name change is meant to reflect Apple's transformation from a computer manufacturer to a full-fledged consumer electronics company.
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