Apple’s iPhone software upgrade -- iOS 4 -- released via iTunes

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Apple is allowing iPhone and iPod touch users to download the newest version of its mobile operating system, called iOS 4. The revamped operating system will allow users to run multiple applications at the same time, as well as feature a gaming platform, a built-in advertising system and Apple’s proprietary iBook application.

Users will also be able to organize their apps into folders, and there are several enhancements to the built-in mail program, including the ability to keep related messages connected in ‘threads.’

The new software won’t work with the original iPhone, and the multitasking feature will only work in the iPhone 3GS and later models.

The new software will come standard on the iPhone 4, which will arrive on Thursday to consumers who were lucky enough to pre-order last week.

-- David Sarno