You should think of the latest iPhone — which hits the shops on Friday — as a flashy sportscar that has just been given a tune-up. Yes, it looks much the same as it always did, but the real work has been done under the bonnet.

It’s bigger, faster and has better features. But only real gadget aficionados will think it’s worth the added expense. Everyone else may decide that an older version, which will be significantly cut in price, will do just fine.

First, Apple’s smartphone has been given an subtle name change: iPhone 3G S. The “S” stands for speed, and Apple thinks that this factor is so exciting that it will convince many to part with their cash. More…