Don't expect the iPhone 5 to be radically different from iPhone 4. Chances are they are just the same device with a few upgrades in hardware and updates on the iOS. Consider it a smaller iPad 2 without the iPhone 4's antenna issues.

There is no reason to change the iconic iPhone look for now. It is part of the brand identity of the iPhone and it still works. Part of the reason why people buy it because everyone knows you're using iPhone just because of the look.

This is also the reason why Apple is in a patent battle with Samsung. They don't want their product to be mistaken with other products and they won't let months of litigation battles go down the drain.

Of course they would be upgrading the hardware into something faster, better and stronger. It might use the same dual-core A5 chip of the iPad 2 and a better camera. Don't expect it to have some new industry break-through in design.

We can't expect it to have a 3D camera or a second screen. That is not just how Apple rolls. Or might use to roll now that it has a new CEO when Steve Jobs stepped down. There is also a new upgraded antenna. Hopefully it would be better than the unfortunate iPhone 4 antenna fiasco.

Design-wise expect it to be slimmer and sleeker with a bigger screen. There are rumors going around that it will ditch the iconic home button but that is highly unlikely. Also according to leaked supposedly pictures of silicon cases, it would be slimmer but just about the same.

Since technology just keeps getting smaller and more affordable, to compete with other smartphones, and especially Android devices, expect it to have a smaller launch price than the previous iPhones.

Now that Apple has officially announced the iPhone event in October 4 at the Cupertino Campus, we could now look at the new smaller, more affordable but essentially the same iPhone. Apple might announce new services entering into their App Store.

Netflix on iPhone and iPad anyone? or they could launch a new social network exclusive to iPhone owners. Why not?