If you get rid of an old iPhone and upgrade to a new 16GB one, AT&T makes you go through the entire activation process all over again. I received my 16GB iPhone today and activated it, so just so there’s no confusion, I’ve outlined the steps below:

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Because Apple introduced the 16GB iPhone today, I decided to sell my 8GB iPhone on eBay so that I could use the earnings to pay for an upgrade — priced at $499.

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Apple today announced a 16GB iPhone, which is immediately available from the Apple Store for $499. Now that the iPhone’s storage capacity has doubled, many of us who want to upgrade are left with 8GB iPhones and wondering what to do with them.

Unfortunately, Apple will not let you trade in your old phone for a discount on the new 16GB iPhone, so what to do with old iPhones if you’re looking to upgrade?

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Steve Jobs announced today that the iPhone’s battery life will now last through 8 hours of talk time, as opposed to the 5 hours that was originally announced at Macworld.

Additionally, the iPhone battery will endure 6 hours of Internet use, 7 hours of video playback and 24 hours of audio playback. If you leave the phone on standby: 250 hours — that’s more than 10 days.

“iPhone’s battery life is longer than any other smartphone and even longer than most MP3 players,” said Jobs in a press release.

Apple also upgraded the iPhone’s uppermost display layer, changing it from plastic to glass in order to make it more scratch-resistant.

The news of the iPhone upgrades raised Apple shares, which were already at an all-time high, by $3.37, to $123.87.