Will Apple Unveil the iPhone 5 on Wednesday?

Apple iPhone 4S Announcement- Tim Cook

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(CNN) – Industry analysts are already predicting that Apple’s iPhone 5, widely expected to be unveiled on Wednesday, will be the best-selling smartphone of all time. Each new iPhone has outsold the previous version, and the iconic device has been the top-selling mobile phone since its 2007 debut.

The rumors, buzz, and hypothetical renderings have been burning up blogs and Twitter, but what does Apple really have in store at its Wednesday announcement? The tech giant is widely expected to unveil the latest incarnation of its smartphone at an event in San Francisco. And while some analysts expect it to be the best-selling smartphone ever, what could the next-generation iPhone have that the 4S – released only last October – doesn’t?

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