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New iPod Nano sports a 2-inch screen

The seventh-generation iPod Nano now offers a bigger display, thinner design, and a new volume rocker.

Now playing: Watch this: Apple gives iPod Nano fresh look

The new iPod Nano will please people who've been craving a larger display. But those who want to wear one as a watch are out of luck.

Apple said today that it wanted to "reinvent the product," and it's done just that. The new Nano sports a 2-inch, multitouch screen, almost resembling a traditional MP3 player. The latest model is also 40 percent thinner than the sixth-generation version.

A new volume rocker on the side lets users play, pause, and scroll through the music, while the built-in FM tuner includes a live pause feature.

The new models comes in a variety of colors, including purple, green, blue, yellow, red, black, silver, all of them giving the Nano an anodized aluminum look. The default background wallpaper matches the color of the device itself.

Pictures unveiled of the new Nano sport a home screen with apps. But they're the usual Nano apps rather than apps from Apple's App store. Fitness and pedometer apps are built in, and the Nano integrates with Nike+ out of the box.

The many colors of the new iPod Nano.
The many colors of the new iPod Nano. James Martin/CNET

No Web browser or Wi-Fi are included, but Bluetooth is part of the package, so you can wirelessly stream music and video to headphones, speakers, and other Bluetooth devices. The new Nano also takes advantage of Apple's new Lighting Dock connector.

Apple's still diminutive iPod Shuffle remains unchanged from last year's model but is getting a new choice of paint job to match all the new colors available with the Nano.

Reaching consumers in October, the new 16GB Nano will cost $149.

Check out CNET's complete coverage of the Apple iPhone 5 event