“The new iPhone just came out, and I've GOT to have it.”

You want to buy a new phone and you're explaining why to your wife. You say this in excitement.

The new iPhone just came out, and I've GOT to have it.

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the new (something)

Why does the speaker say "the new iPhone" instead of "a new iPhone"? It's because everyone expected a new iPhone to be introduced around this time. If you think your listeners know what you're talking about, you should use "the".

Use the phrase "the new ___" when talking about new products that have been eagerly expected. For example:

Have you heard the new Katy Perry album?

I can't wait for the new Harry Potter movie.

(a product) comes out

When a product starts to be sold, you say that it "came out". Use this to talk about electronics, books, movies, and so on.

I remember when the Playstation first came out, it was the most awesome video game system I had ever seen.

The Lost Season 6 DVD is coming out in a couple weeks.

After something "comes out", you can then say that it is out:

Is the new Will Ferrell movie out yet?

It's been out for a few weeks.

I've GOT to have it.

This is a phrase in casual English that you say when you really want something. When you express what you want in this way, you sound a little like an impatient teenager.