There’s always some high anticipation over when Apple decides to up the ante on gigabytes for its iPod (I’m still impressed by last year’s 160-GB unveiling) and, now, the iPhone too.

The latest announcement in that realm came yesterday for Apple fans, as the Cupertino, CA-based company doubled the capacity for the newest versions of both products (the Touch model, in iPod’s case).

That translates to a 16-GB iPhone and a 32-GB iPod Touch, which will both carry a retail tag of $499.

Both models already come i the 8-GB variety, while the Touch also has a 16-GB family member. To refresh your memory, the 8-GB iPhone is $399, and the 8- and 16-GB iPod Touch models are $299 and $399, respectively.

Head to the Apple store to find out more. Read the entire press release here.

Arlen Schweiger - Managing editor of Electronic House Magazine

Arlen contributes product news items to electronichouse.com along with his role on the print publication. Got a tip? Send it along!