Apple's much awaited iPhone 5 will launch on October 4 and Apple's new Chief Executive Tim Cook will lead the show, All Things Digital, a technology website reports. It said that the new iPhone itself would go on sale "within a few weeks" of the announcement. 

The iPhone 5 is a significant product in pipeline for Apple. The Smartphone market is becoming increasingly competitive with many devices running Google's Android software offering budget and feature rich solutions.

Apple iPhone 5 prototype lost in a bar – again

Apple's current iPhone 4 had a shaky start with antenna issues upsetting many users, however it has held up to the competition. Some of the features rumored to be in Apple's Iphone 5 are:

  • a new curvy, rounded, thinner, slimmer design with an aluminum back.
  • Replacement of the home button with a virtual one to allow larger screen coverage
  • 4-inch OLED type screen similar to iPhone 4
  • Full HD 8MP Camera
  • A5 dual core processor
  • Incresed RAM to 1GB
  • Storage may increase to 64GB.

The launch of the iPhone is important for many of Apple suppliers like Foxconn who are rumored to be making 150,000 iPhone 5 models in a day. Many iphone enthusiasts have been eagerly awaiting its launch this year. Will it be worth the wait?