Apple is expected to hold a media event on Tuesday, October 4, 2011 to announce the iPhone 4 and most likely iOS 5. Apple has not officially announced the event but the rumour mill has been buzzing like crazy.

The latest mention of the new iPhone 5 was at at the Discovery Invest Leadership Summit in South Africa, by Al Gore who is an Apple Board member.

He was talking about smartphones when he said, "...not to mention the new iPhones coming out next month. That was a plug."

Once again, the excitement builds. If you are thinking of upgrading your iPhone or purchasing one for the first time, I would hold off for a few weeks. Although, be prepared for the usual Apple manufactured supply shortage. They are notorious for perpetuating the buzz but shorting the product and creating an even stronger demand.