iPhone 5 Release Date: iPhone 4S Pricing and October 14 Launch Date

In just a few hours the world will finally find out what Apple has been planning all this time in terms of releasing a new smartphone.

The company's "Let's Talk iPhone" event is scheduled to take place at 10 a.m. today local time.

The most likely iPhone set to be unveiled at the company’s media event later today is the iPhone 4S.

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The 4S is an upgraded version of the bestselling 4, and 9to5Mac has some insight on the pricing of the device.

According to the site, the price of the unlocked 64GB iPhone 4S will replace the price of the current 32GB iPhone 4.

Along with that, the price of the new 32GB iPhone 4S will replace the price of the current 16GB iPhone 4.

The 64GB iPhone 4S will probably cost $299, the 32GB version will be $199 and the 16GB version will drop down to $99 in the United States.

The projected price for the 8GB iPhone 4 will be $49, and will replace the iPhone 3GS in terms of cost.

Also, 9to5Mac is reporting that Apple is planning to launch the new iPhone on October 14.

The smartphone that will be released that date is the iPhone 4S that will include an A5 processor, the breakthrough Assistant feature, an eight megapixel camera, Nuance speech-to-text, and 1 GB of RAM.

Apple stores plan to work throughout the night of October 13 in order to prepare for the iPhone’s launch.

Stores are scheduled to open at 7 a.m. on the morning of its release.

Other locations will participate for a midnight launch on October 13.

Apple’s media event is taking place at the company’s Cupertino, California Campus.

The tech giant is rumored to debut a new iPhone along with the next generation of iPods.

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