Apple announced updated software for the iPhone today as well. The new software update allows iPhone users to find their location on the Maps application using nearby hotspots or cellular towers. Other updates allow you to text message several people at the same time, customize the home screen and updates the iPhone for watching movies rented via iTunes.

"iPhone doesn't stand still -- we're making it better and better all the time," said Steve Jobs, Apple's CEO. "We've delighted millions of users with this revolutionary and magical product and it's great to share these improvements with them."

Another interesting feature is the ability to create web clips on the iPhone, which are basically like bookmarks on the home page of the iPhone which take you to your favorite websites when pressed. The 1.1.3 update is delivered via iTunes and is available now free of charge.

Apple also announced a software update for the iPod Touch. Unlike the update for the iPhone, the iPod Touch software update carries a price of $19.99. I can’t imagine iPod touch owners being happy about having to pay $20 to get the latest software. Newly purchased iPod Touch devices will ship with the latest software installed.

The software update adds five new applications to the iPod Touch including Mail, Maps, Stocks, Weather, and Notes. This update basically makes the Touch an iPhone without calling capabilities. The update also allows Touch owners to rent movies via iTunes.

Via Apple.