The iPhone has become one of the most dominant electronic gadgets in a generation, accounting for in sales. The release of a new item by Apple produces not only a great deal of excitement but a huge influx of cash across the industry as people clamor for the new phones—or seek a great deal with the older phones that retailers are trying to dump.
On its own, Apple’s iPhone business would be a Fortune 50 company—and it’s bigger than all of Microsoft. In the trial against Samsung, Apple revealed that since the release of the original iPhone in June 2007, the various models of the phone have sold some 85 million units—resulting in $50 billion in U.S. revenue.
Because so many apparent leaks have hit the market, experts think they already know what the new iPhone is going to look like—it will have a larger, 4-inch display, a new dock connector, a faster processor and LTE for faster data speeds. Possible photos of the new phone show that it will look different than the current iPhone 4S model.
As for software, the phone will run Apple’s iOS 6, which the company outlined in June at its Worldwide Developers Conference. That system has a bunch of new features, including Apple’s own maps app to replace Google Maps, Facebook integration, and a new passbook app, which organizes airplane tickets, coupons and other passes you might have.
Anticipation for this new iPhone is enormous, as sites like Gazelle and Glyde report a huge surge in people getting rid of their older phones to prepare for the new one. Some analysts believe the company might sell over 10 million phones within the first month of being on sale. Apple reported that iPhone sales went down in the last quarter as the public waited for the new one.
Apple may also be unveiling new iPod designs today. There will likely be another event in October for Apple to release its smaller version of the iPad, the iPad Mini.
You can actually watch the new unveiling live on ABC at 1 p.m. EST.
And once you do, you better run to the store and get in line if you’d like to buy one.