Apple iPhone 5 and New iPods: Announcement Today in San Francisco

SAN FRANCISCO, Sept. 12, 2012 — -- Today, after months of rumors and speculation, Apple will announce its next iPhone – the iPhone 5. Starting at 10:00 a.m. PT / 1:00 p.m. ET, Apple's CEO Tim Cook is expected to take the stage and detail the new features of the phone.

Thanks to those rumors (which we gathered together here) we have an idea of what Cook might just reveal. Numerous reports have revealed that the new iPhone will have a larger, 4-inch display, a new dock connector, a faster processor and LTE for faster data speeds. Purported photos of the phone have also leaked over the last few months, indicating that the phone will have a different design than the current iPhone 4S model.

Follow ABC News' iPhone 5 Live Blog Here, Starting at 1 P.M. ET.

When it comes to the software, the new iPhone will run Apple's iOS 6, which the company detailed in June at its Worldwide Developers Conference. iOS 6 has a whole host of new features, including Apple's own homebrewed maps app (which will replace Google Maps), Facebook integration, and a new passbook app, which organizes airplane tickets, coupons and other passes you might have.

YouTube is not preloaded with the new software, but earlier this week Google released a new iPhone YouTube app.

The iPhone 5 has been rumored to go on sale as early as today following and start shipping on Friday, Sept. 21st. The iOS 6 software will likely be released around the same time and will be available for previous versions of the iPhone via a download.

Demand for this version of the iPhone is one of the strongest in the history of the phone. Sites like Gazelle and Glyde, which buy older iPhones, have seen a huge surge in traffic over the last few days as people look to unload their phones in preparation for the new one. Some analysts predict the company might sell over 10 million phones within the first month of being on sale. Apple noted on its last earnings call that it saw a significant downtick in iPhone sales last quarter as consumers wait for the new phone.

In addition to the iPhone, Apple is also rumored to announce new iPods today, including a new iPod Shuffle, a redesigned iPod Nano and a new iPod Touch.

Apple is not expected to discuss the its smaller version of the iPad today. According technology sites and ABC News' own sources Apple will hold another event in October to release the so-called iPad Mini.

ABC News will be live at the event at 1:00 p.m. EST / 10:00 a.m. PST. You can follow our live blog here. Stay tuned for our continuous coverage throughout the day.