Apple to Announce iPhone 5 on October 4 [REPORT]

Apple‘s new CEO, Tim Cook, will hold a big media event Oct. 4 to announce the iPhone 5, All Things Digital reports citing sources familiar with the matter.

If true, the launch date of the next generation iPhone is consistent with the recent wave of rumors claiming it will be released in early October.

ATD‘s sources say that Cook will preside over the announcement — with the help of other key executives such as Phil Schiller, who participated in such events in the past — which would give this event even more significance. Cook must persuade the shareholders, the audience and Apple fans all over the world that he can sure-handedly take over the role of Apple CEO and company showman. And the expectations for that particular job are, simply put, enormous.

It is not known whether Steve Jobs, who resigned from the role of Apple CEO in August, will be present at the event.

The newest iPhone will reportedly be available in the few weeks following the announcements

Apple suppliers building cheaper, 8GB iPhone 4 - sources

TAIPEI/HONG KONG (Reuters) - Asian suppliers to Apple Inc have begun manufacturing a lower priced version of its hot-selling iPhone 4 with a smaller 8 gigabyte flash drive, according to two people with knowledge of the matter.

The flash drive for the 8GB iPhone 4 is being manufactured by a Korean company, one of the people said on Tuesday, declining to name the company. Apple currently sources its flash drives from Japan 's Toshiba and South Korea 's Samsung Electronics.

The sources declined to be identified because the information has not been made public.

Apple, which demands high levels of secrecy and security from suppliers and employees, declined to comment.

The existing iPhone 4 was first launched in June 2010 with 16 GB and 32 GB versions, with a white version added to the lineup in April. The 8 GB version expected to launch within weeks, one of the sources said.

In addition to launch of the smaller iPhone 4, Apple is targetting an end September launch for the next-generation iPhone 5, one source said, confirming earlier reports on Apple follower blogsites and industry websites.

The new iPhone , which some call the iPhone 4S because of its largely identical appearance to the existing iPhone 4, will have a bigger touch screen, better antenna and an 8-megapixel camera, one of the people said.

The iPhone 5's two manufacturers have been told to prepare production capacity for up to 45 million units altogether, the source said. The phone will be made by Hon Hai and Pegatron, the person added.