Apple plans to unveil iPhone 5 on Oct 4th

Apple Inc. has plans to unveil its latest version of the legendary iPhone at an Oct. 4 press event. The launch of its popular product becomes the first news worthy item since CEO Steve Jobs quitted his post on health grounds, last month.

Apple has invited the media at its headquarters in Cupertino, California for its Oct. 4 event - named “Let’s talk iPhone,” – which clearly suggests the release of its latest version of its smartphone.

Apple’s iPhone was first launched in 2007. As the market-demand for the touch-screen devices rose afterwards, Apple began ruling the market as the most worthful tech company, after beating rivals like Exxon Mobil Corp.

iPhone – Apple’s most profitable product
Currently, the product brings in around half of the company’s revenue. Mike Abramsky, an analyst at RBC Capital Markets in Toronto, said the company sold 40 million iPhones during the first half of the year and is expected to sell 110 million of the same in 2012.

Last time the company was in news on Aug. 24, was when the chairman and Apple’s co-founder Steve Jobs quit and handed over his office to Tim Cook, the then Chief Operating Officer of the company.

As Cook has never as such actively took part in product unveiling events, his first product launch as CEO will be watched out keenly, say tech analysts. Shaw Wu, an analyst at Sterne Agee & Leach Inc. He says, “The iPhone is the most important product line in the company… Cook will be heavily watched,”

Unique features of IOS-5
Earlier this year, tech experts said Apple’s new iPhone will come with advanced features like a better camera and faster processor.

The latest version of Apple iPhone will also include new software called iOS 5 for new notifications and short message services. A novel feature called iCloud will let users access files, music, images to and fro other Apple devices, wirelessly.

The current wireless models is sold to wireless carries at the rate of $600 and the new version won’t be sold for any less, affirmed Gene Munster, an analyst at Piper Jaffray Cos., in his study report. The product may as well come with voice recognition software, Munster added.