LIVE UPDATES: Apple introduces new iPhones and Apple Watch

**THIS LIVE EVENT HAS CONCLUDED**

Tuesday, Apple announced two new iPhones -- the iPhone 6 and the iPhone 6 Plus -- as well as a new payment system called Apple Pay and the much anticipated Apple Watch. Below was live coverage of the keynote event.

Note: All times are listed as Pacific

12 p.m.

Tim Cook thanks Apple employees and ends by welcoming press to go demo new iPhones and Apple Watch.

11:54 a.m.

U2 announces new album "Songs of Innocence" and that it's going up for free on iTunes, making it the largest album release in history.

11:47 a.m.

U2 performs live at the Apple event in Cupertino

11:45 a.m.

Tim Cook recalls long-established relationship between Apple and U2...and says they will be performing.

11:44 a.m.

Tim Cook: "There's one other thing I'd like to talk about."

Music..."core to our DNA," says Cook.

11:43 a.m.

ApplePay will work with Apple Watch.

11:41 a.m.

Apple Watch will start at $349 and go on sale early next year.

Tim Cook says it's a product "worth waiting for."

11:38 a.m.

Health/fitness features include:

• Move: General overview of how active you are
• Exercise: Measures brisk activity
• Stand: Shows how often you've stood up to take a break from sitting

Workout app will show calories, time, distance, and pace for workouts.

11:34 a.m.

Tim Cook now discussing health and fitness app functions for Apple Watch.

11:31 a.m.

Apple app developers will be able to extend app functions to Apple Watch.

• BMW will help you find your car in a parking lot.
• W Hotels will let you unlock your room using the watch.
• Watch can act as your American Airlines ticket.

11:25 a.m.

Maps on Apple Watch will use taptic engine to let you know when to turn as you walk.

Favorited photos from iPhone will show up on Apple Watch.

Apple Watch analyzes incoming texts and will offer multiple choice responses you can quickly tap. Oh, and animated emojis.

"Glances" shows notifications and has music control.

Home screen has clock at center surrounded by apps.

11:20 a.m.

Apple Watch live demo.

11:17 a.m.

Apple Watch requires an iPhone.

11:16 a.m.

Jony Ive: "We designed Apple Watch as a whole range of products enabling millions of unique designs."

11:12 a.m.

Variety of watch faces and bands will allow users to personalize look. Rubber fitness band, leather with magnetic closure as well as classic buckle, and stainless steel band with adjustable, magnetic closure.

There will also be a smaller watch with smaller face and bands.

11:11 a.m.

Apple Watch will act as comprehensive fitness tracker. Infrared, LEDs and photosensors will detect pulse.

11:08 a.m.

Apple Senior VP of Design Jony Ive-narrated video says Apple Watch display stays off until you raise your wrist.

11:05 a.m.

Tim Cook says Apple Watch is as "much about personal technology as it is about style and taste."

11:03 a.m.

Tim Cook: Cook: "What we didn't do is take the iPhone and shrink down the user interface and strap it on your wrist."

Watch crown (that little knob on the side of your analog watch) is now the digital crown and will act as a navigation device.

11:02 a.m.

Tim Cook: "Apple Watch is the most personal device we've ever created."

10:59 a.m.

It's the iWatch!

10:56 a.m.

Tim Cook: This could have been enough to call it a day...but one more thing.

10:54 a.m.

ApplePay starting in October

10:51 a.m.

Privacy and security key to ApplePay. Apple doesn't know what you bought, where you bought it or what you paid.

Apple: When you add a card to Passbook, its number is never stored or shared on your device or Apple servers. Each transaction is authorized with a one-time unique number.

Will start with American Express, MasterCard and Visa.

Will work at 220,000 merchant locations that currently accept contactless payments.

10:48 a.m.

Apple wants to disrupt your wallet and conventional payment systems.

Tim Cook: "We've placed a lot of energy into creating an entirely new payments solution."

ApplePay is built into every iPhone 6 and 6 Plus.

10:39 a.m.

iPhone 6 comes in gold, silver and space gray, starting at $199.

iPhone 6 Plus starts at $299

iPhone 5S will stay $99

New phone start shipping Sept. 19. Pre-order begins Sept. 12

10:38 a.m.

FaceTime HD camera has been improved -- new sensor, larger aperture, improved face detection means better selfies!

10:35 a.m.

iPhone 6 Plus takes 1080p video at 60 fps and slow-mo at 240fps

10:32 a.m.

Optical image stabilization uses M8 and gyroscope.

10:30 a.m.

New 8MP iSight camera will have faster auto-focus and noise reduction.

Panoramas will have up to 43 megapixels.

10:28 a.m.

New phones will be capable of Wi-Fi calling -- and transfer to cellular network when you leave the house. (T-Mobile only to start)

Apple: With 802.11ac, iPhone 6 Wi-Fi speeds are up to three times faster than iPhone 5s.

10:27 a.m.

New barometer will track elevation -- great for people running stairs.

10:20 a.m.

New iPhones will use the Apple A8 processor, with twice as many transistors as the A7. Apple Senior VP of Worldwide Marketing Phil Schiller says the A8 is 84 times faster at graphics than the original iPhone.

10:15 a.m.

New one-handed gesture feature called "reachability." Double tap the Home button and the display slides down for you to reach.

10:13 a.m.

Apple: iPhone 6 is merely 6.9 mm. iPhone 6 Plus is just a smidge more at 7.1 mm.

10:09 a.m.

Two new iPhones, iPhone 6 and the iPhone 6 Plus

4.7 inches for iPhone 6 and 5.5 inches for iPhone 6 Plus

10:08 a.m.

Time Cook: "Today, we are pleased to announce the biggest advancement in iPhone."

10:06 a.m.

Tim Cook: "Today we have some amazing products to share with you."

10:04 a.m.

Apple CEO Tim Cook takes the stage.

10:01 a.m.

House lights going down and video is starting to play.

9:47 a.m.

Media is being seated inside the Flint Center.

9:30 a.m.

Dr. Oz is outside the Flint Center in Cupertino. Could be an indicator that HealthKit, Apple's software for medical and fitness apps, will make its official debut this morning.

Lots of speculation about the white structure outside the Flint Center; whispers of everything from it looking like an Apple store to it being a New York fashion week-style runway.