New iPhone Likely To Be Announced Today [VIDEO]

Waiting for the new iPhone? After weeks of speculation, Apple holds an event today where it is expected to announce a new smartphone.

Apple isn't saying anything about the topic of the event, but the email invitation it sent to reporters contains a shadow in the shape of a "5'' — a nod to the iPhone 5. It is being held in San Francisco at a venue where Apple has held many product launches.

The new model is expected to work with fourth-generation, or 4G, cellular networks. Samsung's Galaxy S III and many other iPhone rivals already have that capability. The new model will likely go on sale in a week or two.

Apple also plans to update its phone software this fall and will ditch Google.'s mapping service for its own, as rivalry between the two companies intensifies.

Unknown is whether Apple will announce a smaller version of its iPad today.

(Copyright 2012 by The Associated Press.  All Rights Reserved.)