Apple today unveiled the iTunes Wi-Fi Music Store, giving users the ability to browse, search, preview, purchase and download songs and albums from the iTunes Music Store over a Wi-Fi network directly onto their iPod touch or iPhone.

While more useful Wi-Fi features were a key part of what we expected Apple to introduce today, the company fell short of adding capabilities like wireless podcast syncing.

With the iTunes Wi-Fi Music Store, music fans can make music purchases immediately on their iPod touch or iPhone, with no computer required. Once they connect their iPod touch or iPhone back to their PC or Mac, downloaded music will automatically sync back into their iTunes library. If users have only partially downloaded a song or album onto their iPod touch or iPhone, their computer will complete the download automatically. Prices and selection on the iTunes Wi-Fi Music Store are the same as on the regular iTunes Store.

“The iTunes Wi-Fi Music Store is really fun—you can browse, search, freely preview, buy and instantly download music right onto your iPod touch or iPhone,” said Steve Jobs, Apple’s CEO. “Innovative products like this keep iTunes at the forefront of the digital music revolution.”

Ringtones

Apple also introduced a ringtone option that will let you create custom ringtones by selecting up to a 30-second segment from over a million participating songs on iTunes and easily sync them onto their iPhone.

While is a competitive introduction, it falls short of what you can do with third-party utilities already. With iToner and Garageband, you can easily turn any audio into an iPhone ringtone. Let’s hope that Apple’s iPhone update won’t tamper with this option.
Once a customer has purchased a participating song from iTunes, including previously purchased participating songs, it will only cost 99 cents to make up to a 30-second segment of that song into a ringtone and easily sync it onto their iPhone. Customers can personalize their ringtones by choosing which portion of the song they want to use, and setting custom fade in and fade out points. iPhone users can assign a custom ringtone to be their default ringtone and they can also assign them to individual callers in their address book. Customers still have full use of the originally purchased song.

Pricing & Availability

Both the new iTunes Wi-Fi Music Store and custom iTunes ringtones for iPhone will be available later this month. iTunes 7.4 is available immediately as a free download at www.itunes.com. Music purchased from the iTunes Wi-Fi Music Store is priced the same as music from the iTunes store. Ringtones are available for an additional 99 cents for participating songs that have previously been purchased from iTunes. Internet access is required and a broadband connection is recommended, fees may apply. The iTunes Store is not available in all countries.