[caption id="attachment_69808" align="aligncenter" width="635"] Apple Event: To Launch iPhone 5S and 5C - live[/caption]

All Eyes on Apple for Announcement of New iPhone 5S & 5C

Cupertino, CA - Today is the day for the Apple Campus event wherein the new top dog CEO Tim Cook can start to make a name for himself apart from the beloved late Steven Jobs. Cook will be unveiling the next generation of iPhones dubbed the 5S and 5C. Additionally, he is expected to announce when IOS 7 will be available as a download to upgrade existing iPhones.

Apple first released the iPhone in 2007 at a time when the de facto standard of smartphone was the Blackberry from Research in Motion (RIM). It didn't take Apple very long to overtake the Blackberry and become the dominant smartphone. However, their dominance was short-lived as the emergence of Android-based smartphones led by the Samsung Galaxy overtook the iPhone as the number one smartphone and Apple has been in fierce competition ever since.

The iPhone 5C will be Apple's premier phone and is widely expected to feature fingerprint scanning technology which is an important advancement in phone security given the increased use of iPhones to handle financial transactions, online purchases, and even conduct point of sale (POS) transactions for mobile retail stores. The iPhone 5S will be the cost-effective alternative that is expected to expand Apple's overseas sales in lower price-point markets. The big announcement is due at 10:00AM PST.

10:10am

Apple's iPhone launch event is due to start in Cupertino, California at 1pm ET/10am PT. We will Telegraph will be bringing you all the news, as it happens, here.

1:19

iOS 7 will be released on September 18th. for iPhone 4 and later, iPad 2 and later.

1:32

iPhone 5C prices: 16 GB $99 w/ contract, 32 GB $199 w/ contract. Six color cases $29 each.

[caption id="attachment_69928" align="aligncenter" width="600"] Comes in gold, silver and space grey.[/caption]

1:48

iPhone 5S camera: 2.2 aperture, 1.5 micro pixels on camera. "Bigger pixels let in more light," better pictures.

1: 52
CPU performance 40 times faster than original iPhone. CPU and graphics 2x as fast as iPhone 5.

2:01
Apple's new iPhone 5S comes with fingerprint sensor called Touch ID to lock and unlock your phone.

2:09

16 GB iPhone 5S is $199
32 GB iPhone 5C is $199 (but no Touch ID, fancy camera)

2:11

The iPhone 5C is available for pre-order staring on Friday Sept. 13. Both phones will go on sale starting Sept. 20.