Today Apple officially sent out the invitations for their highly anticipated "Next Generation" iPhone event.

Apple are expected to announce a number of new products and services at the event, specifically iOS 5.0, which has been in beta since WWDC and iCloud, which is their new integrated cloud synchronisation service for Mac OS X and iOS. However, as we already know a lot about these two items, the real star of the show will be the next generation iPhone or potentially iPhone's!
So what do I think we'll see from the new iPhone(s)? Over the past couple of months there has been a lot of wild speculation regarding whether Apple will release an iPhone 4S, an iPhone 5, or both. Personally I believe they will be releasing two new products.
I think the flagship product will be the iPhone 5, which will come with a new form factor (probably slimmer, with a tapered edge) and will of course feature a faster processor (the A5 from the iPad 2), more memory (maybe 1GB) and more interestingly a slightly larger screen (approximately 4-inch). With that said, I don't believe the hardware will be the main selling feature, in my opinion Apple will announce full voice integration (based on Nuance), allowing you to navigate your phone, send text messages, etc, all touch free (hence - Let's talk iPhone).
I think the second new product will be a modified iPhone 4, which will look essentially the same as the current model (including the screen size), but will include some minor hardware enhancements (processor, etc). I believe the unique selling point will be a new lower price, with the emphasis on emerging markets such as China. I've been predicting this strategy for a while, as it follows a similar product lifecycle to the highly successful iPod range, allowing Apple go after a new demographic and therefore rapidly expand their potential audience. If this strategy works like it did with the iPod Nano, then we could see a significant boost in iPhone sales for the Christmas period.
With that said, considering this is Apple, there is a high chance that I am completely wrong and maybe instead they will announce new printers after all. Everything will be revealed on Tuesday 4 October 2011.