The new iPhone 5S is expected to be unveiled in less than two hours at Apple’s media event being hosted at the Cupertino, Calif. Town Hall auditorium. Banners resembling the media invite have been put up at the gate entrance. It shows colorful circles with Apple logo in the middle.

iPhone 5S keynote event will go live at 10:00 AM PT. This years media event theme is, “This should brighten everyone’s day.” It is widely believed that Apple will announce iPhone 5S and iPhone 5C at today’s keynote event.

According to various rumors we’ve published in the past iPhone 5S will retain the same design as the iPhone 5. The highlight features in the hardware could be new fingerprint sensor, dual-led flashlight and new A7 processor. The camera sensor is rumored to have new slow motion recording feature. A patent filing we reported on yesterday also suggested that the home button fingerprint sensor could also feature NFC for contactless financial transactions.

Apple is also expected to announce the all-new low-cost iPhone 5C model which will have a polycarbonate body with the same design and tech specs as the iPhone 5. A special media event scheduled for September 11 for Chinese media could suggest deal with China Mobile to carry iPhone 5C on its network. With over 700 million subscribers, a deal with China Mobile could prove to be a huge win for Apple.

In addition to iPhone 5S and iPhone 5C, Apple will share updates on iOS 7 and OS X Mavericks release date. Are you excited about today’s event? Will you be upgrading your iPhone based on the rumors about the iPhone 5S? Let us know what you think in the comments below.

iPhone 5S release date could be set for September 20th as T-Mobile has issued a vacation blackout for its employees starting 20th and ending 22nd. Apple is widely rumored to hold iPhone 5S media event on September 10th so its possible that 20th may in-fact be the release date for the new iPhone.

Apple’s carrier partners usually issue blackout dates in order to make sure that they have maximum workforce during the first week of the launch of a major product. iPhone launch day has traditionally witnessed long queues and such blackout dates have been reported in the past with other carriers as well.

This year Apple is expected to introduce two iPhone 5S and iPhone 5C. While iPhone 5S will be the flagship product for 2013, iPhone 5C will be a more economical model geared towards pre-paid users and the Asian market.

iPhone 5S is widely reported to feature dual-led flash, A7 processor expected to be 31% faster, new fingerprint sensor and advanced camera software supported by new motion sensors. The overall design of the new iPhone will remain the same as the current gen phone.

On the other hand iPhone 5C will support a polycarbonate body with a 4inch retina display and will sell in multiple colors. The hardware is expected to run on A6 chip and the same 8 megapixel camera.

If previous years launch is any indication then September 20th launch of iPhone 5S in the United States could be followed by the second round of countries about two weeks later.

{via TmoNews}