The iPod managed to make a comeback Wednesday morning with the reveal of a new iPod Touch that features a faster processor and a software update that allows the music player to support Apple Music, the company's new subscription-based streaming service.

It's the first time in nearly three years that Apple has released a new iPod, which fell into obscurity after the rise of the iPhone that can do everything an iPod does, according to ABC News. The iPod nano and shuffle will also get new colors along with the iPod Touch, but won't get any of the new hardware.

New Processor

The new iPod has an A8 chip – the same one on the iPhone 6 and iPhone 6 Plus. This marks the first time that current generation iPods and iPhones have used the same processor. On top of cost effectiveness and performance, this also means that Apple can now require that all apps built for the App Store be compatible with 64-bit architecture, according to Tech Crunch.

New Camera

The device also features a new eight megapixel rear camera that is paired with a fresh image-processing chip. The frontal camera isn't changing in resolution but now has a larger pixel pitch, allowing the user to make better low-light selfies. Both cameras now have burst mode allowing the camera to take ten pictures a second and can shoot video with 120 fps slo-mo, according to Fortune.

Differences from iPhone 6

Aside from the already mentioned cellular service, the iPod Touch won't have any of the sensors the iPhone 6 possesses. This means that there's no finger print ID to the device and you can't use Apple Pay with it.

On the other hand, the Touch does have an M8 motion co-processor, meaning that the user can use the device as a fitness tracker.

Furthermore the Touch is smaller than the iPhone. The Touch screen is 4-inches while the iPhone 6 and the iPhone 6 Plus are 4.7 inches and 5.5 inches, respectively.

The new iPod touch models begin at $199 for 16GB. 32GB $249, 64GB $299 and they're adding a new 128GB model at $399.