Apple iPhone 5S, iPhone 5C Event Today / Features, Specs Announced at Keynote in Cupertino / Live Stream Online [VIDEO]

Today is the big day, iPhone 5S fans. Finally Apple will unveil its new flagship smartphone, along with the reintroduction of iOS 7, which will include iWork and iLife.

After Apple runs through iOS 7 features at the keynote event September 10, [which we'll discuss later] they'll move on to hardware. According to most Apple experts the successor to the iPhone 5 will be the iPhone 5S, contrary to some speculation the company will bypass the normal naming convention and skip straight to the iPhone 6.

Chances are the new iPhone 5S will be identical to its predecessor in terms of design, save the dual LED flash on the back. Though the iPhone 5S will most likely feature a 4-inch Retina display and similar casing, there will be some new specs under the hood.

Fans can expect an upgraded A7 processor, better battery life, industry-matching camera [slow-motion video?] and a fingerprint sensor [Apple purchased the patent earlier in the year].

The new iPhone 5S is expected to come in 32GB, 64GB, and 128GB storage capacities, and is rumored to feature a "gold" color option.

Along with the new iPhone 5S, Apple is also expected to announce its low-budget alternative, the iPhone 5C. The iPhone 5C will feature most of the same specs as the iPhone 5, which includes a 4-inch Retina display, A6 processor, 8-megapixel camera

Fans can expect the iPhone 5C to come in five different color options, such as yellow, green, blue, white, and rose.

While some believe the iPhone 5C will be priced $0 with a two-year contract [like the iPhone 4], some belive the iPhone 5 will be weeded out, making the budget phone $99.

Click here for live coverage of Apple's keynote event:

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