Forget the Mac cupcakes , I need a new nano ! Steve Jobs is making his big announcements about upcoming Apple products at San Francisco's Moscone Center as I type. Engadget  is blogging live if you want to check out a full transcript, but the first major announcements are a new lineup of shuffle colors, which will be available in time for the holidays, a PRODUCT (RED)  nano, new nano with video capabilities and a new 160GB iPod, which is smaller than the original iPod and puts 40k songs in your pocket.
"We are adding a RED shuffle — if you want to do something about these diseases in Africa," Engadget quotes Steve Jobs as saying. "Same 1GB of storage, $79, shipping today, available shortly. Now let's move on to something more substantial, the iPod nano. It's incredibly tiny, this is the new nano, it's incredibly thin. It's REALLY nice." The new nano will come in what Jobs calls "beautiful colors," have a larger 2-inch screen and will play video. The new iPod will come in 80 and 160 GB, and will cost $250 and $350 respectively. Apple will also release 8GB and 16GB iPod Touch devices, which are much like the iPhone.
All images from Engadget . Check out their coverage for the full scoop.