The event is set for 10AM at the Apple campus in Cupertino, California.
The rumor mill is swirling that Apple will also unveil a lower-cost iPhone “5C” as well as a more expensive iPhone 5 successor.
The new handsets will run iOS7, which boasts a handy Control Center for getting quick access to certain settings and utilities.
Apple is also expected to share details about iTunes Radio, the company’s answer to the music streaming service Spotify.
Tech experts are also anticipating information on an iWatch smartwatch.
Apple’s rival Samsung is expected to show off its own Galaxy Gear smartwatch on Wednesday.