APPLE co-founder Steve Jobs has died after a battle against cancer - 24 hours after the company launched it's new iPhone.

Mr Jobs, 56, had only stepped down recently as the technology giant's chief executive officer because of his deteriorating health.

His death was announced by Apple in a statement saying: "Apple has lost a visionary and creative genius, and the world has lost an amazing human being.

"Those of us who have been fortunate enough to know and work with Steve have lost a dear friend and an inspiring mentor.

"Steve leaves behind a company that only he could have built, and his spirit will forever be the foundation of Apple."

An email address for tributes to Jobs was set up at rememberingsteve@apple.com A further statement from the company said: "Steve's brilliance, passion and energy were the source of countless innovations that enrich and improve all of our lives. The world is immeasurably better because of Steve."

Mr Jobs had originally co-founded the company in a garage with friends. However he was forced out of Apple in 1985 and the company's fortunes plummeted.

It was only when he was asked to return in 1996 that it began its march towards becoming a tech giant, with the launches on the iMac, iPod, iPhone and most recently the iPad.

He has been credited as the overall guiding vision for the company and was estimated to be worth US$5billion personally.

However Mr Jobs' health was not good. In 2004 he was operated on for pancreatic cancer. He returned to work but speculation about his health continued to dog him in 2008 and 2009.

He took more time off and had a liver transplant before returning to Apple in 2009. It was in January this year he announced he would be taking more medical leave and in August he finally said he would be be relinquishing his CEO role.

His death came about 24 hours after Apple launched the new iPhone 4S.