Apple's iPhone 5- Start Walking!

Carrying the weight of Apple Inc's future, Industry expects iPhone 5 to be not just a smart phone but little more than what is expected.

The Apple inc. is going to kick start its media event today and as expected will unveil iPhone 5 for the world to see its first glimpse.

Analysts predict the iPhone may be among the biggest consumer-electronics releases in history. Still, Apple's reliance on the device leaves Cook little margin for error.

According to media reports, Apple's newest iPhone is expected to offer 4G wireless technology for the first time, and a 4-inch display, up from the current 3.5 inches.

But it remains to be seen if Chief Executive Tim Cook has any surprises up his sleeve, and if he will show off any technological breakthroughs that can put the iPhone 5 head and shoulders above the competition.

According to Reuters, five years after the first iPhone upended the mobile industry, analysts say Apple is looking increasingly defensive as Samsung Electronics Co Ltd and other rivals have been first to market with phones that sport bigger screens or run on faster wireless networks.

Apple has grappled with competitive pressure since the first iPhone in 2007, though its rivals have changed as former market leaders such as Canada's Research in Motion or Finland's Nokia struggle, and as Asian powerhouse Samsung has come to the fore.

Wednesday's iPhone 5 launch also comes days after Nokia unwrapped its first phone to run the latest Microsoft Windows software, intended to spearhead a new family of devices.

According to various media reports, even though few tech experts expect the new iPhone to mark a sea change in smart phone hardware technology, Wall Street analysts are still expecting Apple to sell 10 million to 12 million phones in September alone.