Slimmer, cooler, enough to compete with Android?

Steve Jobs officially announced the new iPhone 4 yesterday morning at Apple’s Worldwide Developer’s Conference in San Francisco. The basic design of the iPhone 4 (read a full review of the iPhone4 handset) was hardly novel due to a leak by technology blog Gizmodo several months ago, but the slick appearance of the iPhone 4 and some steady improvements earned it a round of applause from technology media and blogs at the conference.

While the iPhone 4 still leads the smart phone market in some ways, there was hardly any single killer feature that significantly sets it apart in this fast-paced and rapidly evolving smart phone market. Instead, the iPhone 4 is entering a more homogenous and competitive smart phone market full of competitors eager to challenge its supremacy, an indicator of a new phase of overall growth for the mobile industry. Here are the three things you need to know about the iPhone 4 and its impact on the mobile space:
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