Apple will give the public on Sept. 12 a taste of what they have long been waiting for: the iPhone 5.  

If Apple streams the unveiling, it will be found on their official events page. If there is no live stream from Apple, Justin.tv and uStream may feature an live stream of the iPhone 5 event. iPhone 5 live blogs are also available by some sites. 

The event starts at 10 a.m. Pacific, 12 p.m. Central and 1 p.m. Eastern Time.

Apple Inc. have strategized to only once a year release upgrades for a product that makes up about 70 percent of the company's profit, according to New York Metro. Chief Executive Officer, Tim Cook, will make the announcement about the new phone on Wednesday. 

The publication also reported that the iPhone 5 will likely have a original hardware design, including a bigger screen and thinnner body, as well as compatability with fast data networks. It is also being said that sales of the iPhone 5 could help boost the U.S. economy. 

No pricing plans have been officially announced by Apple, however, reports suggest that the iPhone 5 will carry the same cost as a new iPhone 4S - $199 for a 16 gigabyte version with a new contract. Additionally, Apple may discontinue the iPhone 3G and use the iPhone 4 model as its free phone.

Also expected at Wednesday's press event is a line of new iPods, complete with an innovative redesign for the iPod Nano and iPod Touch and slight changes for the iPod shuffle.

Enstarz previously reported that images of the iPhone 5 show a newer 8-pin dock connector that would overtake the previous 30-pin iOS connector. The processor is slated to be upgraded, but there is no guarantee that the front and rear-facing cameras will be.

Mac World also stated that the brand new iPhone may feature 4G/LTE connectivity.

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