Apple expected to unveil new iPhone

Apple Inc., which hasn't shown off a new iPhone in more than a year, is expected to unveil its latest version of the popular smartphone Tuesday.

The company is holding a media event starting at 10 a.m. Pacific time at its Cupertino headquarters, invitations for which were emailed last week and included the line "let's talk iPhone." The company typically rolls out a new iPhone during the summer, but this year Apple was expected to wait until the fall.

Apple began selling the most recent iPhone — iPhone 4 — last June, and introduced the first one in 2007. Its slick looks, touch screen and intuitive software made it immediately popular. The phone has gained millions of fans (Apple sold 39 million between just January and the end of June) and has led to fierce competition from smartphone makers such as those using Google Inc.'s Android software.

A new iPhone is expected to include Apple's latest iOS mobile software, iOS 5, which will have features such as wireless device setup and content syncing and beefed-up camera, email and Web-browsing apps. It is also expected to include Apple's upcoming iCloud service, which will store content like music and photos on Apple's servers so you can access them wirelessly on multiple devices.

On the hardware side, a new iPhone is anticipated to look much like the iPhone 4, though it may be thinner and have a slightly larger screen. It is also expected to have a camera that is better than the current iPhone's 5-megapixel rear camera and a faster processor.

The iPhone event is expected to be presided over by Tim Cook, Apple's recently appointed CEO. Cook was named after Apple co-founder Steve Jobs resigned from the post in August, following a medical leave that began in January. Jobs is now Apple's executive chairman.