If you haven't already heard, the official word is in. Apple will not be releasing the next generation iPhone 5 this year. Instead, the company has made some major upgrade and changes to the iPhone 4 and is calling the new iPhone, iPhone 4S. Appearance-wise, the new 4S is identical to its predecessor. On the inside, it's a complete upgrade with new features, apps, and capabilities.

Besides the software upgrade to iOS 5, the iPhone 4S will have much greater functionality as a smartphone. With the new 8-megapixel sensor camera, there is practically no need for point-and-shoot cameras anymore. The camera is also said to allow 73 percent more light in and takes pictures up to three times faster than the iPhone 4.

Another feature appealing to a lot of Apple users is the Voice Assistant named Siri. Conceptually, that is exactly what Siri is. It utilizes advanced voice recognition technology to help us schedule events, search for restaurants, set alarms, check the weather, and more. This is reported to be available exclusively on the 4S right now. So far, the beta will support English, German, and French. In addition to iPhone updates, Apple also announced that a new iPod is on the way.

Some that were eager for a new release are disappointed from Tuesday morning's news. Moreover, Apple's shares are said to have dropped approximately 4 percent since the event. Is Apple in trouble?

The 4S will hit stores Oct. 14 with pre-orders starting this Friday (Oct. 7). Are these enhancements to the current iPhone 4 enough for you to upgrade? Let us know what you think.