Apple to announce new iPhone 5 or iPhone 4S later today?

Speculations everywhere of what will be announced later today. Will there be a new iPhone or is it just an upgrade version of the iPhone 4 just like 3G to 3GS ?

According to Gizmodo, they expect iOS 5 to be officially announce and the downloads availability will be announced.

As for iPhone, they are pretty sure that there will be an iPhone 4S. It is said that the iPhone 4S is a cheaper version of the iPhone 4. This codename has appeared in the IOS 5 beta OS and has also been leaked on Germany’s Vodaphone site.

It is anticipated that this phone will have a new A5 processor and more RAM, a better camera with similar design. It is just like iPhone 3GS was a faster iPhone 3G.

They also bet that there is a 50% chance that there might be a new iPod Touch. Although the event is “Let’s talk iPhone” but Apple has announced iPods at iPhone events in the past. So, there might just be a newer iPod Touch, perhaps of a form factor similar to the iPhone 4.

So, what would you be expecting from the event that starts in less than 5 hours from now ? Post your comments below.