Apple is expected to reveal the iPhone 5 at its ‘Let’s Talk Phone’ event today - the buzz surrounding the handset has hit an all-time high with leisure and business travellers amongst Apple fans who are eagerly awaiting details of the company’s announcement.

Following months of speculation around the latest model, there is still disagreement among analysts as to what new features the 5th generation model will offer. Earlier rumours indicated that the iPhone 5 would have a “radical new design”.

While more recent rumours suggest that there could be two models of the handset – a 4S model with slight improvements, as well as a secondary, cheaper version of the iPhone 4 with a prepay option, to appeal to the Chinese and other international markets.

The 4S model is expected to have upgraded RAM to improve speed and performance, an enhanced 8mp camera with a larger screen to display pictures on, as well as improved recording functionality and voice control systems which includes voice navigation and speech to text.

Analysts are predicting that Apple will smash its one-day sales record of 1.7 million due to and it will sell more than 100 million next year, according to reports.

To date, Apple has sold 100 million iPhones worldwide, and recently became the largest handset vendor in the world, surpassing Nokia. Meanwhile it is estimated that over 70% of the world’s population now have a mobile phone.

Travel companies ranging from airlines, to hotels, to major travel exhibitions have been moving into the mobile space in recent months with the launch with a range of travel ‘apps’ which iPhone users can enjoy. There are over 425,000 Apple approved “apps” with diverse functions, including games, reference, GPS navigation and social networking.

Leading global event, World Travel Market recently rolled out its free mobile App, ahead of the annual event next month on November 7th. The App is available on Android, Blackberry, iPhone and Windows smartphones with features such as registration, seminar listings, a personal event planner and route finder.

Meanwhile to coincide with the release of the iPhone 5, travel deals website Travelzoo has launched its first iPhone app in the UK and Europe, which enables subscribers to access travel deals while on the go. The app also uses GPS to locate the closest deals to the user.

Priceline has recently launched its latest version of the Hotel & Rental Car Negotiator app for iPhone users, which offers deeply discounted rates for last minute travellers.

Kuoni Travel other travel companies are keen to branch into the mobile space. The experimental launch of Kuoni’s iPhone app has prompted the leading tour operator to look into developing a mobile site, where it sees great opportunity.

“The thing about apps is that they are much quicker and easier to develop than a mobile site and it was a perfect opportunity for us to establish the importance of the mobile medium for our products and services to our customers and we found customers were using it and they did see mobile as a means for searching for our types of holidays.” Commented Matt Rooke, e-business director, Kuoni.

City.Mobi offers the most comprehensive mobile travel guides available, with over 800 cities in 200 countries listed. Key features include information on accommodation, restaurants, attractions, entertainment, nightlife, shopping, and transport.  City.Mobi guides include user reviews and traveller utilities such as a translation guide, currency converter, news and local weather guide. Visit London.Mobi.

The first iPhone was unveiled by former Apple CEO, Steve Jobs in January 2007, and was released on June 29th 2007. This year, Apple has broken its tradition of introducing new generation iPhones in the month of June. 

But October seems timely for the release of this latest innovation as it was ten years ago in October 2001 that Apple revealed the first ever iPod, which had space for 1000 songs. This was followed by a host of other products, gadgets and innovations including the iTunes music store, iPod Nano, iPod Touch, the iPad (1 & 2) and of course the iPhone(1, 2, 3 & 4) – all of which have appealed to international travellers.

The Let’s Talk iPhone media event is rumoured to be taking place at Apple’s Cupertino campus at 10am Pacific Time. It will be the first event for Apple’s new acting boss Tim Cook.

.