Preorders for the new phones will begin Sept. 19, but the Apple Watch won't be available until early next year.
Rumors of a larger, tablet-like phone came true, when Apple CEO Tim Cook announced the 5.5-inch iPhone 6 Plus. A smaller iPhone 6 comes in a 4.7 inches. Comparatively, the iPhone 5s is 4 inches. Both the 6 Plus and the 6 will be slimmer than the 7.6-millimeter iPhone 5s at 7.1 and 6.8 millimeters, respectively.
The new phones boast a processor that Apple claims is 25 percent faster than the previous one and has a better battery life than iPhone 5s.
Pre-orders for the phones begin on Sept. 12 with the iPhone 6 starting at $199 with a two-year contract and the iPhone 6 Plus starting at $299. Customers can also get their new phone starting at 8 a.m. on Sept. 19, but it's likely Apple die-hards will begin lining up even earlier.
Both phones will come standard with a new near-field communication (NFC) payment system that allows you to make wireless payments using your phone instead of your credit cards. Credit cards are stored in the phone and customers can make a purchase by placing the phone next to special point of service systems. Instead of entering your signature, you press a fingerprint sensor in the home button.
Apple has already teamed up with some major retailers including Macy's, Walgreens, McDonalds and Whole Foods. About 220,000 retailers will accept the new payment method.
The new system isn't just limited to the phone. The new Apple Watch will also have this feature, among others that monitors health and fitness levels. Not just a competitor in the fitness watch market, the Apple Watch is also a computer.
The watch will be available early next year for $349.