Apple to "talk iPhone" on Oct 4th, expect iPhone 5 and iOS 5
Details on the new iPhone (or iPhones) have been scarce, the only new features that do seem to be certain are the adoption of the A5 processor that's currently used in the iPad 2, and a beefier 8 megapixel rear-facing camera.
Aside from that, it's also rumoured that there may be not only an iPhone 5 with a uni-body aluminium casing, but also an updated iPhone 4 dubbed the 'iPhone 4S' as an entry-level model to replace the existing iPhone 3GS. This new low-end iPhone 4S would be largely similar to the current iPhone 4 but at an entry-level price point.
Release and shipping of the new iPhone(s) is expected to commence in the 2nd week of October.