After months of rumors, the iPhone 3G has finally gotten its official announcement.

The new iPhone will come in 8 and 16 GB models, at subsidized prices of $200 and $300 respectively. Both will have all metal buttons with black plastic backs, with the 16 GB model also offered with a white back. The 3.5 inch screen from the first iPhone will be carried over. The handset will have GPS built in.

A common complaint about the original iPhone was the recessed headphone jack. While it strengthened the jack to help prevent damage, it inadvertently kept a vast number of headphones from properly fitting. The iPhone 3G’s headphone jack will be flush.

Apple’s put a lot of work into this new iPhone’s battery life: Standby time of 300 hours, 3G talk time of 5 hours, 3G browsing time of 5-6 hours, 7 hours of video playback, and 24 hours of audio playback.

The iPhone 3G should hit the shelves on July 11th. Until then, check out the new commercials.