This simple Apple update will make your iPhone faster and free up space

An Apple customer uses an iPhone 7. Photo / Getty Images

Apple's i0S 10.3 update has just been released and iPhone users may notice their treasured handsets are running a little faster once it's installed.

The Cupertino-based company has just rolled out a huge update, with the new Apple File System (APFS) replacing its 19-year-old file system HFS+.

Apple has advised iPhone, iPad and iPod Touch users to backup their devices before installing the major update.

Early installers of i0S 10.3 have reported instantaneously having more storage on their devices, reportedly as a result of the switch to APFS.

All you need to do is go to Settings> General> Software Update.

Apple engineer Renaud Lienhart tweeted that users of the next-generation file system would feel their iPhone running a lot more smoothly.

"iOS 10.3 feels 'snappier' because many animations were slightly tweaked and shortened, for the better," he tweeted.

Apple has also introduced a number of new features on iOS 10.3, including the ability to locate AirPods using Find my iPhone and more ways to use Siri with payment, ride booking and automaker apps.

iOS 10.3 updates:

• AirPods

View the current or last known location of your AirPods with Find My iPhone.

Play a sound on one or both AirPods to help you find them.

• Siri

Support for paying and checking status of bills with payment apps.

Support for scheduling with ride booking apps.

Support for checking car fuel level, lock status, turning on lights and activating horn with automaker apps.

• CarPlay

Shortcuts in the status bar for easy access to last used apps.

Apple Music Now Playing screen gives access to Up Next and the currently playing song's album.

Daily curated playlists and new music categories in Apple Music.

• Other improvements

Rent once and watch your iTunes movies across your devices.

Hourly weather in Maps using 3D Touch on the displayed current temperature.

Support for searching "parked car" in Maps.

Calendar adds the ability to delete an unwanted invite and report it as junk.