Live Update 2 pm EST: iPhone 5 will be available in the United States on September 21, starting at $199 for 16GB, $299 for 32 GB and $399 for 64GB. Pre-orders tart on Sept. 14
Live Update 1:20 pm EST: Apple officially announced the iPhone 5 this afternoon at the highly anticipated Apple event. Features inlcude 4" Screen, LTE, thinnest phone ever made by Apple 7.6mm thick and 18% thinner than iPhone 4S, 112 grams (20% lighter than iPhone 4S), Retina Display 326 pixels per inch (same as old model), Pixels 1136 x 640.
Up until this moment, rumors continued to swirl around the latest iPhone 6.
The Apple event is aligned to prepare the market for the upcoming holiday season with a possible addition of an iPad Mini and new iPods.
There are high expectations from Apple and consumers over the addition of the new phone. The last quarter sales for iPhones have not met the company's expectations, but analysts say this may be due to potential buyers waiting for the latest device.
Apple has also stated that at the conclusion of the event they will post the keynotes on their website.
The Apple event of the year takes place at 10 a.m. PDT at the Yerba Buena Center for the Arts in San Francisco.
CNET Live Coverage starting at 12 pm EST.
LiveBlog Gizmodo starts coverage at 12 pm EST.
Engadget Live Blog Video Live Streaming from Oustide the Yerba Buena Center. Live Now!