In addition to the iPhone, Apple CEO Steve Jobs also unveiled the retail version of the pre-announced iTV streaming media device. Now called the Apple TV, the living room gadget allows users to wirelessly play audio and video content from a Mac or PC on a television. Jobs said the device will begin shipping in February for $299.

Along with the features previously shown, including the interface and browsing, Jobs revealed that the Apple TV will have a 40GB hard drive (for up to 50 hours of video, 9,000 songs, 25,000 photos or a combination of each) and is capable of delivering high-definition 720p output. Jobs also said that using high-speed AirPort 802.11 wireless networking, the device can auto-sync content from one computer or stream content from up to five additional computers to a TV.

“Apple TV is like a DVD player for the 21st century—you connect it to your entertainment system just like a DVD player, but it plays digital content you get from the Internet rather than DVDs you get from a physical store,” said Steve Jobs, Apple’s CEO. “Apple TV plays the same iTunes content that users enjoy on their computers and iPods, so now they can even watch part of a movie in their living room, and watch the rest later on their iPod.”