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Apple Debuts iPhone, TV Device, Drops 'Computer' From Name

SAN FRANCISCO — Apple Computer (AAPL) CEO Steve Jobs on Tuesday made the company's long-awaited jump into the mobile phone business and renamed the company to just "Apple Inc.," reflecting its increasing focus on consumer electronics.

The iPhone, which starts at $499, is controlled by touch, plays music, surfs the Internet and runs the Mac OS X computer operating system.

Jobs said it will "reinvent" the telecommunications sector and "leapfrog" past the current generation of hard-to-use smart phones.