Apple likely to unveil new iPhone next week

Apple Inc. seems set to unveil its much-awaited new iPhone next week. According to analysts, the new iPhone will have a bigger screen and work better with remote computing services.

Apple has invited media to a special event called ‘Let’s talk iPhone’ on October 4 at its California headquarters. The invitation did not have any other details, and an Apple spokesman would not provide further information.

“This is the iPhone 5,” ThinkEquity analyst Mark McKechnie said of the event.

The new iPhone would be the first major product launch under Tim Cook, who took over full-time as Chief Executive after co-founder Steve Jobs resigned last month.

Though a good product, the current iPhone 4 could use some improvements, McKechnie said. “We talked about it having a bigger screen, a dual core processor and probably integrates pretty well with the iCloud.”

The iPhone, introduced in 2007 with the touchscreen template now adopted by its rivals, remains the gold standard in the booming smartphone market.

The new model, which some has been dubbed the iPhone 5, will have a bigger touch screen, better antenna and an 8-megapixel camera, one source with knowledge of the matter.