New iPhone with taller screen unveiled

SAN FRANCISCO (AP) - Apple is holding an event in San Francisco during which it is announcing a new iPhone, capable of faster data speeds and sporting a taller screen.

The iPhone 5 will likely go on sale in a week or two. It will work with fourth-generation, or 4G, cellular networks, something Samsung’s Galaxy S III and many other iPhone rivals already do.

Apple Inc. is also updating its phone software and will ditch Google Inc.’s mapping service for its own. The two have become rivals as Google promotes phones running its Android operating system.

In anticipation, several gadget makers refreshed their lineups last week, hoping to beat Apple on the buzz. Nokia Corp. and Google Inc.’s Motorola Mobility division announced five new smartphones between them, while Amazon.com Inc. updated its Kindle Fire tablet computer and announced new stand-alone e-reader models.

Sales of Apple’s iPhones are still strong, though the company lost the lead in smartphones to Samsung this year.

Samsung Electronics Co. benefited from having its S III out in the U.S. in June, while Apple was still selling an iPhone model it released last October. A new iPhone will allow Apple to recapture the attention and the revenue. Analysts are already estimating that Apple will sell 8 million to 10 million iPhone 5s before the company’s quarter ends Sept. 30.

That said, the iPhone has been trailing Android phones in sales. On Tuesday, Google executive Hugo Barra declared on his Google Plus social networking page that 1.3 million Android phones are added each day, with 500 million devices activated globally. As of June, Apple has sold 244 million iPhones since the first one came out in 2007.

Apple’s event Wednesday is taking place at Yerba Buena Center for the Arts Theater, where Apple has held many product launches.

Here’s a running account of the event, presented in reverse chronological order. All times are PDT. Appearances are made by CEO Tim Cook; Philip Schiller, the senior vice president for worldwide marketing; Scott Forstall, senior vice president for mobile software; and others.

___

10:55 a.m.

Apple reminds the audience that the new phone is thinner and lighter than previous models.

Compared with the closest competitor, Samsung’s Galaxy S III, the iPhone’s screen is still smaller (the S III is 4.8 inches, compared with the iPhone 5’s 4 inches). The iPhone 5 is lighter than the S III _ 122 grams (4.3 ounces) compared with 133 grams (4.7 ounces).

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10:50 a.m.

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