The invitations have been sent out to those in the Apple inner-circle and it looks like the new iPhone is set to launch on 4 October at 10am.
Journalists were invited to a 'Special Event' to 'Talk iPhone' at the company's headquarters in California, but criptically, the company is yet to say what - if any - models it will be launching.
So to celebrate what looks like the launch of the latest iPhone, we take a look at some of the information we know about it so far, as well as some of the rumours flying around...
A larger display, smaller bezel and an all metal back are some of the features rumoured to be appearing on the iPhone 5.
The crack-prone back is sure to be replaced, according to gadget website T3, leading to a look that's similar to the original iPhone.
The Wall Street Journal have also reported recently that the iPhone 5 will be "thinner and lighter" then previous models.
The Wall Street Journal also claimed that the new iPhone will have an eight megapixel camera, which is highly likely as the iPhone 4 has lagged behind many other rival models when it comes to pixel size.
The addition of NFC would basically turn your phone into a credit card, enabling users to pay for anything via your iPhone 5.
The appearance of this new technology in Google's Android 2.3 update also suggests that it could be on Apple's to do list too.
The techy bit
Apple is rumoured to be ditching the iPhone 4's 1GHz A4 processor for the faster dual-core A5 CPU.
The A5 chip is already being used in the iPad 2, so it won't come as much of a surprise if Apple go for it in the new iPhone.
Japanese blog Macotaka has suggested that that the iPhone 5 could get the same treatment as the Nintendo 3DS.
This could, however, be a step too far for Apple currently but we wouldn't rule it out for future devices.
Visit T3's website for more on the latest iPhone 5 rumours
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