Today at its iPhone launch event, Apple announced yet another piece of hardware: the fifth-generation iPod touch. As rumored, it has a 4-inch display, the same 326 ppi panel used on the new iPhone 5. On the inside, it packs an A5 chip promising seven times the graphics performance of the last-gen model. The battery is rated for 40 hours of music playback, or eight hours of video. The rear camera has also gotten an upgrade: it’s now a 5-megapixel shooter with a backside-illuminated f/2.4 lens. That main rear camera also now shoots 1080p video, and Apple has also added image stabilization. And yes, it supports the same panorama shooting feature as the iPhone 5. The front camera, meanwhile, is 720p and supports FaceTime (over WiFi only, of course — no 4G models here).

If that image stabilization feature doesn’t do it for you, there’s also a protruding button on the back, to which you can attach a wrist strap — you know, so that if the shakes get really bad you at least won’t drop the thing. Perhaps the biggest news, though, is that the new iPod touch has Siri built in, making it the first non-iPhone device from Apple to get this feature.

The new iPod touch will be available in two flavors: a 32GB model ($299) and a 64GB number ($399). It will be sold in five colors: “raw aluminum,” black, blue, yellow and red. A (PRODUCT) RED version will also be available. Three hundred bucks too pricey for your next PMP? Luckily for you, the last-generation touch will still remain on the market, with the 16GB one going for $199 and the 32GB version selling for $249.