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This is the iPhone 4. Announced on WWDC keynote in June 2010. It features a new exterior design, 5-megapixel camera with LED flash, the 960x640 Retina Display screen and FaceTime Video Calls

Application Processor

It uses the Apple A4 CPU, same as the iPad. It will also ship with 512MB of RAM, double that of the iPad and iPhone 3GS. [1]

Baseband

It uses the X-Gold 618.

Jailbreaks and Unlocks

As of now the only information regarding the jailbreak of the iPhone 4 is another userland jailbreak developed by @comex.

The jailbreak is currently being worked on, and it is not yet ready [2]. When a screen-shot of Cydia was demonstrated, the jailbreak used copyrighted Apple code, so it could not be distributed.

As for unlock @planetbeing along side @musclenerd have worked together to unlock the iPhone 4.

GPS

The iPhone 4 uses the Broadcom BCM4750 single-chip GPS receiver, like the iPad. [3]

Specifications

Color: Black or white
Size: 115.2 mm (4.5 inches) (h), 58.6 mm (2.31 inches) (w), 9.3 mm (0.37 inches) (d)
Weight: 135 g (4.8 oz)
Battery: Standby up to 300 hours, talk time up to 7 hours on 3G and up to 14 hours on 2G
Rear camera: 5MP with Autofocus and manual focus (Tap to focus), supporting HD video recording @ 30FPS
Front camera: VGA photos and video @ 30 FPS, supporting FaceTime Video Calls

Major Upgrades/Difference from iPhone 3GS

• A4 processor
• RAM upgrade to 512 MB
• Totally new baseband device, firmware, and bootloader
• Two cameras: front and back