Here's what to expect from the iPhone announcement

It’s finally here: The day that Apple is expected to introduce the next generation of the iPhone.

The blogosphere for months has been buzzing about the announcement. Here’s a roundup of the major rumors and the likelihood that they'll be part of the new device.

Likely:
- A faster processor and an upgraded camera.
- iOS 5, the next iteration of Apple’s mobile operating system.
- Support for Sprint.
- “Assistant,” a voice-commanded virtual assistant.

Less likely:
- A cheaper and stripped-down cloud-based iPhone.
- A larger display.
- A new generation of the iPod touch.
- Surprise appearance from Steve Jobs.

Unclear:
- Reports are divided on whether Apple will show an internal-only upgrade in an iPhone 4S, an internal and external upgrade in an iPhone 5, or whether both versions will be introduced.