Apple's formal invitation to the press announcement. (Flickr Creative Commons/hassanhassanine)

The iPhone 5S comes with improvements to battery life, apps that track location, and security, and also holds the distinction of being the first 64-bit smartphone. The biggest feature is the new TouchID, which allows you to use your fingerprint to unlock the phone or make purchases over iTunes or other apps. According to Apple, the information will not be stored on any servers or over the iCloud, which further strengthens the security of the device.

The 5S also improves its battery life to about 10 hours for various activities, 40 hours for music, and 250 hours of standby time. It has an A7 processor, making it twice as fast as the iPhone 5 and 40 times faster than the original iPhone. There's also a M7 chip, which will improve exercise apps and other apps that track location.

Apple said the 5S will go on sale on September 20th, and will come in three models: 16 GB for $199, 32 GB for $299, and 64 GB for $399, all with a two-year contract. It will come in three colors: silver, gold, and "space gray."

Apple's iPhone 5c/via twitter

Rather than simply lower the price of previous iPhone models, Apple decided to simply release a new, cheaper phone. The iPhone 5C provides a cheaper, more colorful alternative to the standard iPhones, while keeping the 4-inch screen of the 5S. It is made of poly-carbonate as opposed to the usual steel body, and will come in five different colors: red, white, blue, yellow, and green. It will cost $99 for a 16 GB model and $199 for a 32 GB model. It will be available on September 20 and can be pre-ordered starting on September 13th.

READ MORE: Apple's New iPhone: Does The 'C' Stand For Cheap?

iOS 7 continues the general interface of Apple's home screen, but completely changes how it looks. It adds new colors, icons, and animations, as well as redesigned Mail, Calendar, Music, Photo, and Camera apps. It also adds a new Command Center feature, allowing you to quickly access settings by swiping up from the bottom of the screen, as well as a new multi-tasking view, accessed by double-tapping the home button. Additional minor tweaks, such as the ability to choose between a female or male voice for Siri, also come with the update, which will be released on September 18 to owners of iPhone 4, 4S, and 5 and iPad 2, with Retina, and Mini.

Overall, Apple continues their reputation for eye-catching, accessible smart-technology. The 5C provides a cheap, colorful alternative to the 5S, which comes with some intriguing new features. iOS 7 provides additional new features to existing technology, as well as improves the already sleek interface. However, after Samsung's announcement of their Galaxy Gear smartwatch, and rumors circulating that Apple was working on a similar product, it would have been nice to hear news on what they have planned for that.

Reach staff writer Andrew Schultz here or follow him on Twitter.