In a big media event today Apple announced the latest version of the iPhone and a new product called the Apple Watch. The iPhone 6 and 6 plus will both be larger than their predecessors and feature camera and processor upgrades. They will also both allow for a new Apple payment system that is expected to be supported by major banks and retailers. The Apple Watch will come out in 2015 as a support device for the iPhone. It will feature a small touch screen, biometrics sensors and a variety of apps.