Microsoft Launches Windows 7

Microsoft CEO Steve Ballmer unveils Windows 7, the company's newest operating system. (Reuters)

Lenovo S12 netbook on display at the Windows 7 launch party. Microsoft said it designed the new OS with a smaller footprint, faster boot and shut-down times and improved power management so it would run well on netbooks. (Reuters)

Windows 7 launch party attendees play around with new features of the OS. Microsoft says it’s the first version to fully embrace multi-touch technology with the right hardware. (Reuters)

Attendees playing with a Windows 7 3-D game system. (Reuters)

Like its predecessor, Vista, Windows 7 comes in several flavors tailored to different users. The Windows 7 Home Premium upgrade will retail for $119.99, Professional has a price tag of $199.99, and Ultimate will cost $219.99. Microsoft is also offering stripped-down Windows 7 Starter and Home Basic versions, but not on the retail level.