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iPhone OS 3.2
Released: April 3, 2010
Added:

• This version of the OS is specific to the iPad and adds features and functionality for that device

iPhone OS 3.1.3
Released: Feb. 2, 2010
Added:

• Improved battery status reporting
• Fixes bug related to apps not launching
• Fixes bug related to Japanese Kana keyboard
• Various security fixes

iPhone OS 3.1.2
Released: Oct. 8, 2009
Added:

• Bug fixes for network connection lost and problems waking from sleep.

iPhone OS 3.1
Released: Sept. 9, 2009
Added:

• App Store Genius. Like the Genius feature for music, this tool recommends App Store programs based on what the user has previously enjoyed.
• New Ringtones. While previous ringtones were user-creatable through iTunes, users can now buy pre-made ringtones from record labels through the included iTunes Store app.

iPhone Firmware 3.0
Released: June 17, 2009
Sneak Preview: March 17, 2009 
Added:

• Copy and paste
• MMS, aka multimedia messaging service; text messages with photos and videos
• Bluetooth connections between iPhones and iPod touches (the OS also unlocks the Bluetooth hardware included, but not currently used, in the second-generation iPod touch)
• Bluetooth stereo streaming
• Spotlight search functionality on the home page
• Tethering, to allow use of iPhone as modem for computers (for an additional fee)
• Background push notifications so apps can deliver content when they’re not being run
• Support for peripherals through the dock connector
• New app: Voice memos, which does what you’d expect from the name

• A revised Stocks app
• Landscape mode in mail, text, and notes
• Voice Control of phone and iPod (iPhone 3GS only)
• Notes that can sync to Macs and PCs, unlike in the current OS
• Form auto-fill and anti-phishing tools in Safari
• Shake-to-shuffle in the iPod app, a la the 4th-generation iPod nano
• The ability to rent and purchase movies, TV, and audiobooks over the air
• Parental controls and ratings for apps, iTunes content, etc.
• Find my iPhone feature for lost phones via MobileMe; includes remote deletion of data as an option
• Support for 30 new languages
• Purchases within apps now supported, works in paid apps only

iPhone Firmware 2.2.1
Released: Jan. 27, 2009
Added:

• Bug fixes related to Safari, camera roll and Mail
• Bug fixes for iPod touch related to handling AAC files
• Other bug and stability fixes

iPhone Firmware 2.2
Released: Nov. 21, 2008
Added:

• Google Street View, with driving, walking, and public transit directions
• Display address of dropped pins and share location via email
• Over-the-air downloads of podcasts from the iTunes Store
• Turn off text auto-correction
• New home screen shortcut brings you to first page of Home screen
• Bug fixes to reduce dropped called, improve Safari stability, improve mail fetching and display of HTML mail, improve sound quality in Visual Voicemail

iPhone Firmware 2.1
Released: Sept. 12, 2008
Added:

• Decrease in call set-up failures and dropped calls
• Significantly better battery life for most users
• Dramatically reduced time to backup to iTunes
• Improved email reliability, notably fetching email from POP and Exchange accounts
• Faster installation of 3rd party applications
• Fixed bugs causing hangs and crashes for users with lots of third party applications
• Improved performance in text messaging
• Faster loading and searching of contacts
• Improved accuracy of the 3G signal strength display
• Repeat alert up to two additional times for incoming text messages
• Option to wipe data after ten failed passcode attempts
• Genius playlist creation

iPhone Firmware 2.0.2
Released: August 18, 2008
Added:

• Bug fixes

iPhone Firmware 2.0.1
Released: August 4, 2008
Added:

• Bug fixes

iPhone Firmware 2.0
Released: July 11, 2008
Added:

• Support for iPhone 3G
• Support for App Store and third-party applications and games
• Support for Microsoft Exchange
• Support for 3G data and GPS, when the hardware is present

iPhone Firmware 1.1.4
Released: Feb. 26, 2008
Added:

• Bug fixes

iPhone Firmware 1.1.3
Released: Jan. 15, 2008
Added:

• Location awareness
• Customizable home screen and multiple home screen pages
• Multi-recipient SMS
• Lyrics display in iPod
• Chapters in iPod movies
• Web clips
• Support for iTunes Movie Rentals

iPhone Firmware 1.1.2
Released: Nov. 13, 2007
Added:

• International Keyboard Support
• Bug Fixes
• Tacit approval for user-created ringtones

iPhone Firmware 1.1.1
Released: Sept. 27, 2007
Added:

• iTunes WiFi Music Store
• New Calculator icon
• Double-tap functionality on Home button
• TV in/out features
• Bug Fixes

iPhone Firmware 1.0.2
Released: Aug. 22, 2007
Added:

• Increased speaker volume
• Improved EDGE and WiFi reception
• Closing user-created ringtone and program holes
• Bug fixes

iPhone Firmware 1.0.1
Released: Aug. 1, 2007
Added:

• Closing user-created ringtone and program holes
• Bug fixes