If you have been holding off on an iPhone or iPod Touch purchase due to lack of storage today might be the day you want to jump on the bandwagon. Both models have had their storage doubled and consequently their prices increased. The 16GB iPhone will set you back $499 while the 32GB iPod Touch rings up at the exact same $499. No 3G data so this is definitely not the much rumored iPhone 2.0 it is just your basic memory boost.
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