Californian purveyor of cool gadgets, Apple, delivered the goods at the Worldwide Developers Conference in San Francisco on Monday, lifting the curtain on yet another iPhone model – the 3G S.

The “S”, Apple tells us, stands for “speed,” with the device boasting enhanced memory and processor power to give a faster performance in applications and on the web.

In terms of hardware enhancements, the 3G S also features longer battery life, a 3 megapixel autofocus camera, which happily allows video recording, hands free voice control and a digital compass that complements the onboard GPS to reorient maps to the direction you are facing.

The new hardware, which goes on sale June 19, will also feature the iPhone OS version 3.0 firmware, adding over 100 new features including: Cut, Copy and Paste; MMS; improved search; landscape keyboard; parental controls; Voice Memos; a Find My iPhone feature that works together with MobileMe; Remote Wipe; wireless downloading of movies, TV and audio programs; and peer to peer functionality.

Tethering will also be supported, but only by some carriers, and then at a price. Industry analyst with Ovum, Adam Leach, noted that this latest offering from Apple is further evidence of the move towards managed device platforms (MDP), distinguishing those devices that are actively managed by OEMs, MNOs, web companies and retailers from those that aren’t.

“Consumers will increasingly make buying decisions based not on a device’s potential to support advanced capabilities but – crucially – on the vendor managing their data and services on the device,” Leach believes.

The iPhone 3G S will be available for $199 for the 16GB model and $299 for a 32GB model, with a two year contract on AT&T. As a result, AT&T is slashing the price of the older iPhone 3G to $99 for the 8GB model.

The iPhone OS 3.0 software will be available on June 17 as a free software update via iTunes for all iPhone customers.