Apple has unveiled iTunes 11, a revamp of its media player, manager and store.

The new release is timed to match the announcement of the new iPhone 5, as well as news iPods and iOS 6 features.

iTunes 11 is described as a dramatic redesign of its flagship App, putting the focus on its iTunes in the Cloud service.

It removes the sidebar-based layout which has been a feature of the application for more than a decade.

Features include improved playlist creation and management, a new layout for albums and artwork.

The iTunes stores for iPhone and iPad were also totally redesigned, and include better search performance and previews that play in the background while you're browsing for new albums, songs and movies.

Apple CEO Tim Cook made the announcement at the company's hugely-anticipated keynote in San Francisco, California.

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  • An Associated Press reporter holds the Apple EarPods during a product review in San Francisco, Wednesday, Sept. 12, 2012. (AP Photo/Jeff Chiu)

  • The Apple EarPods are shown during a product review in San Francisco, Wednesday, Sept. 12, 2012. (AP Photo/Jeff Chiu)

  • Apple unveils new iPhone model

    Technology giant Apple has unveiled a raft of updated products including the latest model of its new iPhone. The iPhone 5, which weighs in at 112 grammes, has a 4in screen - half an inch bigger than previous models, at Kings Place, Central London.

  • Apple unveils new iPhone model

    Technology giant Apple has unveiled a raft of updated products including the latest model of its new iPhone. The iPhone 5, which weighs in at 112 grammes, has a 4in screen - half an inch bigger than previous models, at Kings Place, Central London.

  • Apple unveils new iPhone model

    Technology giant Apple has unveiled a raft of updated products including the latest model of its new iPhone. The iPhone 5, which weighs in at 112 grammes, has a 4in screen - half an inch bigger than previous models, at Kings Place, Central London.

  • Apple unveils new iPhone model

    Technology giant Apple has unveiled a raft of updated products including the latest model of its new iPhone. The iPhone 5, which weighs in at 112 grammes, has a 4in screen - half an inch bigger than previous models, at Kings Place, Central London.

  • Apple unveils new iPhone model

    Technology giant Apple has unveiled a raft of updated products including the latest model of its new iPhone. The iPhone 5, which weighs in at 112 grammes, has a 4in screen - half an inch bigger than previous models, at Kings Place, Central London.

  • Apple unveils new iPhone model

    Technology giant Apple has unveiled a raft of updated products including the latest model of its new iPhone. The iPhone 5, which weighs in at 112 grammes, has a 4in screen - half an inch bigger than previous models, at Kings Place, Central London.

  • Apple unveils new iPhone model

    Technology giant Apple has unveiled a raft of updated products including the latest model of its new iPhone. The iPhone 5, which weighs in at 112 grammes, has a 4in screen - half an inch bigger than previous models, at Kings Place, Central London.

  • Apple unveils new iPhone model

    Technology giant Apple has unveiled a raft of updated products including the latest model of its new iPhone. The iPhone 5, which weighs in at 112 grammes, has a 4in screen - half an inch bigger than previous models, at Kings Place, Central London.

  • The new Apple iPhone 5 is displayed Wednesday Sept. 12, 2012 following the introduction of new products in San Francisco. The iPhone 5 is a blend of beauty, utility and versatility. (AP Photo/Eric Risberg)

  • Apple unveils new iPhone model

    Technology giant Apple has unveiled a raft of updated products including the latest model of its new iPhone. The iPhone 5, which weighs in at 112 grammes, has a 4in screen - half an inch bigger than previous models, at Kings Place, Central London.

  • Apple unveils new iPhone model

    Technology giant Apple has unveiled a raft of updated products including the latest model of its new iPhone. The iPhone 5, which weighs in at 112 grammes, has a 4in screen - half an inch bigger than previous models, at Kings Place, Central London.

  • Apple unveils new iPhone model

    Technology giant Apple has unveiled a raft of updated products including the latest model of its new iPhone. The iPhone 5, which weighs in at 112 grammes, has a 4in screen - half an inch bigger than previous models, at Kings Place, Central London.

  • Apple unveils new iPhone model

    Technology giant Apple has unveiled a raft of updated products including the latest model of its new iPhone. The iPhone 5, which weighs in at 112 grammes, has a 4in screen - half an inch bigger than previous models, at Kings Place, Central London.

  • Apple unveils new iPhone model

    Technology giant Apple has unveiled a raft of updated products including the latest model of its new iPhone. The iPhone 5, which weighs in at 112 grammes, has a 4in screen - half an inch bigger than previous models, at Kings Place, Central London.

  • Apple Introduces iPhone 5

    SAN FRANCISCO, CA - SEPTEMBER 12: The new iPhone 5 is displayed during an Apple special event at the Yerba Buena Center for the Arts on September 12, 2012 in San Francisco, California. Apple announced the iPhone 5, the latest version of the popular smart phone. (Photo by Justin Sullivan/Getty Images)

  • Apple Introduces iPhone 5

    SAN FRANCISCO, CA - SEPTEMBER 12: Apple Senior Vice President of Worldwide product marketing Phil Schiller announces the new iPhone 5 during an Apple special event at the Yerba Buena Center for the Arts on September 12, 2012 in San Francisco, California. Apple announced the iPhone 5, the latest version of the popular smart phone. (Photo by Justin Sullivan/Getty Images)

  • Apple Introduces iPhone 5

    SAN FRANCISCO, CA - SEPTEMBER 12: The new iPhone 5 is displayed during an Apple special event at the Yerba Buena Center for the Arts on September 12, 2012 in San Francisco, California. Apple announced the iPhone 5, the latest version of the popular smart phone. (Photo by Justin Sullivan/Getty Images)

  • <a href="http://www.engadget.com/2012/09/12/apple-iphone-5-liveblog/" target="_hplink">Courtesy of Engadget.</a>

  • <a href="http://www.engadget.com/2012/09/12/apple-iphone-5-liveblog/" target="_hplink">Courtesy of Engadget.</a>

  • <a href="http://www.engadget.com/2012/09/12/apple-iphone-5-liveblog/" target="_hplink">Courtesy of Engadget.</a>

  • <a href="http://www.engadget.com/2012/09/12/apple-iphone-5-liveblog/" target="_hplink">Courtesy of Engadget.</a>

  • Apple Introduces iPhone 5

    SAN FRANCISCO, CA - SEPTEMBER 12: Apple Senior Vice President of Worldwide product marketing Phil Schiller announces the new iPhone 5 during an Apple special event at the Yerba Buena Center for the Arts on September 12, 2012 in San Francisco, California. Apple announced the iPhone 5, the latest version of the popular smart phone. (Photo by Justin Sullivan/Getty Images)

  • Phil Schiller

    Phil Schiller, Apple's senior vice president of worldwide marketing, speaks on stage during an introduction of the new iPhone 5 at an Apple event in San Francisco, Wednesday Sept. 12, 2012. (AP Photo/Eric Risberg)

  • The iPhone 5 is shown during an Apple event in San Francisco, Wednesday, Sept. 12, 2012. (AP Photo/Jeff Chiu)

  • Phil Schiller

    Phil Schiller, Apple's senior vice president of worldwide marketing, speaks on stage during an introduction of the new iPhone 5 at an Apple event in San Francisco, Wednesday Sept. 12, 2012. (AP Photo/Eric Risberg)

  • Apple Introduces iPhone 5

    SAN FRANCISCO, CA - SEPTEMBER 12: Apple Senior Vice President of Worldwide product marketing Phil Schiller announces the new iPhone 5 during an Apple special event at the Yerba Buena Center for the Arts on September 12, 2012 in San Francisco, California. Apple announced the iPhone 5, the latest version of the popular smart phone. (Photo by Justin Sullivan/Getty Images)

  • Apple Introduces iPhone 5

    SAN FRANCISCO, CA - SEPTEMBER 12: Apple CEO Tim Cook speaks during an Apple special event at the Yerba Buena Center for the Arts on September 12, 2012 in San Francisco, California. Apple announced the iPhone 5, the latest version of the popular smart phone. (Photo by Justin Sullivan/Getty Images)

  • Phil Schiller

    Phil Schiller, Apple's senior vice president of worldwide marketing, speaks about camera quality of the iPhone 5 during an Apple event in San Francisco, Wednesday, Sept. 12, 2012. (AP Photo/Jeff Chiu)

  • Phil Schiller

    Phil Schiller, Apple's senior vice president of worldwide marketing, speaks on stage during an introduction of the new iPhone 5 at an Apple event in San Francisco, Wednesday Sept. 12, 2012. (AP Photo/Eric Risberg)

  • Tim Cook

    Apple CEO Tim Cook talks on stage during the introduction of the new iPhone 5 in San Francisco, Wednesday, Sept. 12, 2012. (AP Photo/Eric Risberg)

  • Phil Schiller

    Phil Schiller, Apple's senior vice president of worldwide marketing, gives prices of the iPhone 5 during an Apple event in San Francisco, Wednesday, Sept. 12, 2012. (AP Photo/Jeff Chiu)

  • The Foo Fighters perform during an Apple event in San Francisco, Wednesday, Sept. 12, 2012. (AP Photo/Jeff Chiu)

  • Phil Schiller

    Phil Schiller, Apple's senior vice president of worldwide marketing, speaks on stage about new connectivity options during an introduction of the new iPhone 5 in San Francisco, Wednesday Sept. 12, 2012. (AP Photo/Eric Risberg)

  • Greg Joswiak

    CORRECTS ID TO GREG JOSWIAK, NOT EDDY CUE - Greg Joswiak, Apple’s vice president of Hardware Product Marketing, speaks about EarPods during an Apple event in San Francisco, Wednesday, Sept. 12, 2012. (AP Photo/Jeff Chiu)

  • Tim Cook

    Apple CEO Tim Cook speaks in front of an image of the iPhone 5 during an Apple event in San Francisco, Wednesday, Sept. 12, 2012. (AP Photo/Jeff Chiu)

  • Tim Cook

    Apple CEO Tim Cook speaks during an Apple event in San Francisco, Wednesday, Sept. 12, 2012. (AP Photo/Jeff Chiu)

  • The Foo Fighters perform during an Apple event in San Francisco, Wednesday, Sept. 12, 2012. (AP Photo/Jeff Chiu)

  • Phil Schiller

    Phil Schiller, Apple's senior vice president of worldwide marketing, gives release dates of the iPhone 5 during an Apple event in San Francisco, Wednesday, Sept. 12, 2012. (AP Photo/Jeff Chiu)

  • Phil Schiller

    Phil Schiller, Apple's senior vice president of worldwide marketing, speaks on stage about the introduction of a new operating system during an introduction of the new iPhone 5 in San Francisco, Wednesday Sept. 12, 2012. (AP Photo/Eric Risberg)

  • Phil Schiller

    Phil Schiller, Apple's senior vice president of worldwide marketing, speaks on stage about new connectivity options during an introduction of the new iPhone 5 in San Francisco, Wednesday Sept. 12, 2012. (AP Photo/Eric Risberg)

  • Phil Schiller

    Phil Schiller, Apple's senior vice president of worldwide marketing, speaks on stage about new connectivity features during an introduction of the new iPhone 5 in San Francisco, Wednesday Sept. 12, 2012. (AP Photo/Eric Risberg)

  • Phil Schiller

    Phil Schiller, Apple's senior vice president of worldwide marketing, talks about the features of the new camera and iSight during an introduction of the new iPhone 5 at an Apple event in San Francisco, Wednesday Sept. 12, 2012. (AP Photo/Eric Risberg)

  • Phil Schiller

    Phil Schiller, Apple's senior vice president of worldwide marketing, speaks about camera quality of the iPhone 5 during an Apple event in San Francisco, Wednesday, Sept. 12, 2012. (AP Photo/Jeff Chiu)

  • Phil Schiller

    Phil Schiller, Apple's senior vice president of worldwide marketing, speaks in front of an image of the iPhone 5 during an Apple event in San Francisco, Wednesday, Sept. 12, 2012. (AP Photo/Jeff Chiu)

  • Phil Schiller

    Phil Schiller, Apple's senior vice president of worldwide marketing, speaks in front of an image of the iPhone 5 during an Apple event in San Francisco, Wednesday, Sept. 12, 2012. (AP Photo/Jeff Chiu)

  • Tim Cook

    Apple CEO Tim Cook speaks in front of an image of an iPad during an Apple event in San Francisco, Wednesday, Sept. 12, 2012. (AP Photo/Jeff Chiu)

  • Phil Schiller

    Phil Schiller, Apple's senior vice president of worldwide marketing, speaks on stage during an introduction of the new iPhone 5 at an Apple event in San Francisco, Wednesday Sept. 12, 2012. (AP Photo/Eric Risberg)

  • Apple iPhone

  • Apple Introduces iPhone 5

    SAN FRANCISCO, CA - SEPTEMBER 12: Apple Senior Vice President of Worldwide product marketing Phil Schiller announces the new iPhone 5 during an Apple special event at the Yerba Buena Center for the Arts on September 12, 2012 in San Francisco, California. Apple announced the iPhone 5, the latest version of the popular smart phone. (Photo by Justin Sullivan/Getty Images)

Demand for the new iPhone is expected to be huge, with search data before the event revealing a massive pent-up demand for a new iPhone.

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Every new generation of the iPhone has sold more units than all the previous generations combined, and investors' hopes are high that the new model can come close to replicating that success.

Meanwhile iPod sales have dipped, reflecting a move towards fuller-featured mobile devices.

The new iPhone comes after a week of announcements by top mobile phone manufacturers looking to steal the limelight.

Nokia's recently announced Lumia 920 has won plaudits for industrial design and its ground-breaking camera, while Motorola and Samsung have also unveiled new devices in recent weeks.