The much hyped iPhone was introduced by CEO Steve Jobs himself at Mac World 2007, the annual gathering of Mac enthusiasts in San Francisco, California.

According to Apple:

iPhone combines three products — a revolutionary mobile phone, a widescreen iPod with touch controls, and a breakthrough Internet communications device with desktop-class email, web browsing, maps, and searching — into one small and lightweight handheld device. iPhone also introduces an entirely new user interface based on a large multi-touch display and pioneering new software, letting you control everything with just your fingers. So it ushers in an era of software power and sophistication never before seen in a mobile device, completely redefining what you can do on a mobile phone.

A video of the keynote presentation is also available online.

In Steve's speech, he mentioned that Apple had been working on the iPhone for the past 2 1/2 years, which goes to show that innovation at the R&D (research and development) level will eventually reveal great products that stand head-and-shoulders above all others in comparison.

If the past success of the omnipresent iPod is any indication of future success, the Apple iPhone is sure to be a hit.