In today’s Apple September Event keynote, Steve Jobs announced that Apple will be releasing an update to iOS4 that, among other things, adds the capability for High Dymanic Range photography.

When you shoot a photo with the HDR feature enabled, the iPhone will actually shoot a 3 exposure bracket and combine them to get an HDR image. Steve’s examples in the keynote showed images taken with the iPhone in difficult lighting situations: bright skies over a landscape, and portraits of a man and woman in the shade on a sunny day. The results look really nice.

Image via “Live Apple fall 2010 event coverage by Ryan Block for gdgt.

iOS 4.1 will be available next week.