iPhone 5 Release Date: 1-in-3 Say They Will Buy the iPhone 5

Thirty-five percent U.S. consumers, in a survey conducted by PriceGrabber this summer, said they would buy the iPhone 5 upon its release. With advanced enthusiasm like that it is not surprising that the nation is agog with iPhone mania.

Newly named Apple CEO Tim Cook will be on hand from Apple’s headquarters to lead the first major official product unveiling in years without iconic former company head Steve Jobs.

Tuesday's "Let's talk iPhone" show, starting at 1 p.m. EST, will position the new CEO in a headlining role in more ways than one. There are rumors of an appearance by Jobs himself, but they are unconfirmed.

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According to Reuters, some on Wall Street also expect the company to unveil a cheaper model tailor-made for the fast-growing Asian market, one of the few areas where Apple can accelerate its growth.

The iPhone 5 is anticipated to be faster, thinner and larger in screen, and the company will present it to the world just in time before the tremendously important holiday shopping season.

It is also expected to come loaded with the updated iOS5 software that Apple unveiled in June. Some of the new features include improved notification functions and better Twitter integration.

Some are excited by the forthcoming iCloud service, which will store content such as music, documents, apps and photos on Apple's servers and let you access them wirelessly on numerous devices.

Ideally, the event would be additionally useful if utilized to present new iPods and updates to its iTunes music software, which it usually does at this time of the year.

Last September, Apple announced updates to iTunes and as well as recalibrated iPods, which included a version of the iPod Nano with a touch screen.

Of those excited about the latest iPhone unveiling Tuesday is Sprint, which according to the Wall Street Journal has committed to buying at least 30.5 million units of the new mobile device, a report that, at least for the moment, has left some of the company’s stockholders a bit jittery.

Shares of Sprint fell 10 percent or 31 cents to 2.73 Monday.

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