From Eben Upton, Raspberry Pi Founder:

This isn’t a “Raspberry Pi 2″, but rather the final evolution of the original Raspberry Pi. Today, I’m very pleased to be able to announce the immediate availability, at $35 – it’s still the same price, of what we’re calling the Raspberry Pi Model B+.

The Model B+ uses the same BCM2835 application processor as the Model B. It runs the same software, and still has 512MB RAM; but James and the team have made the following key improvements:

• More GPIO. The GPIO header has grown to 40 pins, while retaining the same pinout for the first 26 pins as the Model B.
• More USB. We now have 4 USB 2.0 ports, compared to 2 on the Model B, and better hotplug and overcurrent behaviour.
• Micro SD. The old friction-fit SD card socket has been replaced with a much nicer push-push micro SD version.
• Lower power consumption. By replacing linear regulators with switching ones we’ve reduced power consumption by between 0.5W and 1W.
• Better audio. The audio circuit incorporates a dedicated low-noise power supply.
• Neater form factor. We’ve aligned the USB connectors with the board edge, moved composite video onto the 3.5mm jack, and added four squarely-placed mounting holes... (cont'd)