Countdown to iPhone 5 begins

The entire technology market is expected to come standstill tomorrow. Wednesday, the fourth day of this week has apparently been chosen by world's most prestigious mobile device maker Apple Inc. for iPhone 5 launch.

Although Apple hasn't confirmed the news yet anticipation is building up with every passing second. The media event scheduled to be organized in California.

A lot has already been said and speculated about iPhone 5. Right from its pricing (assuming to be sold at a price more than $600 in United States) to processors, iPhone 5 has been subject of debate for the past 6 months.

And even though Android-based smartphones have outnumbered Apple's iPhones this year, the demand for latter hasn't gone down a bit. Interestingly, a strong buzz is also doing rounds that Apple will also launch a relatively cheaper version of iPhone 4 aka iPhone 4S in the same event to retain the lost ground from competitors like HTC and Samsung.

However, for Apple Inc. tomorrow's event is more than the mere launch of iPhone 4 or 5. It will be the first in Apple iDevice era under the new CEO Mr. Tim Cook, who took over the reins after Apple's founder Steve Jobs hung up his boots due to poor health conditions. It goes without saying that this event will be a litmus test for Mr. Cook who will be looking to prove himself as the new CEO.

On the other side, a lot is at stake for Apple Inc. Android's increasing dominance is a worrying factor. Also, Microsoft Corp. is investing substantial funds for creating its own smartphone operating system. Research in Motion (RIM) is already trying to crawl its way back by launching a series of mass-friendly smartphone models. 

Still, in terms of desirability, Apple models pack a solid punch.