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iPhone 5 Release Date: LIVE - New Device to Launch Oct. 14 - Is it the iPhone 5 or iPhone 4S?

iPhone 5 Release Date: LIVE - New Device to Launch Oct. 14 - Is it the iPhone 5 or iPhone 4S?

It has been announced that Oct. 14 will be the launch date of the new iPhone, and the news has immediately created a buzz on the Internet as rumors and speculations swirl as to how the phone will look and function as well as what it will be called; as Apple CEO Tim Cook continues to tease fans at Apple’s event in California.

A year after the iPhone 4 was launched, Tim Cook, the new CEO of Apple is currently in the middle of Apple's address on new products.

Now the latest rumors are saying the phone will be called the iPhone 4S and not the iPhone 5.

Essentially the 4S would be an updated version of the 4, and the 5 would come later down the line.

The first iPhone was launched in 2007, followed by a new version just about every year following.

Since then the franchise has gone on to sell 300 million units of the device with no signs of slowing up.

In comparison, Sony sold 230 million units of the Walkman over 30 years. The iPod is going on five years.

This is the first major announcement Apple is making since Tim Cook took over for Steve Jobs.

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