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Apple showcases new iPhone

Reuters :

Apple Inc looks unveiled a new iPhone on Tuesday after a 15-month hiatus, hoping to fend off hard-charging rivals running Google Inc's Android and safeguard its lead with the fifth incarnation of the iconic device.
Newly appointed CEO Tim Cook has done the honors this time from Apple's headquarters, running the first major product launch in years without impresario Steve Jobs as he tries to take Apple to still-loftier heights.
The iPhone 5 -- expected to be faster, thinner and larger-screened-would arrive just in time for the crucial holiday shopping season. It should sustain Apple's smartphone momentum and help ward off a challenge from close runner-up Samsung Electronics.
Apple launches are some of the hottest events on the tech calendar, scrutinized by fans, investors, the media and industry insiders alike. Tuesday's "Let's talk iPhone" show, starting at 1 pm Eastern time, will mark Cook's unofficial debut since taking over from co-founder Jobs in August.
Some shareholders and analysts expect a cameo appearance by Jobs, now chairman, though a no-show would not be a major disappointment.
With the launch of the new phone, Apple faces the challenge of surpassing the popularity of its current iPhone 4, a 15-month-old model and bona fide hit with more than 20 million sold in the third quarter ended June 25.
Some on Wall Street also expect the company to unveil a cheaper model tailor-made for the fast-growing Asian market, one of the few arenas where Apple can accelerate its growth.
"We expect improved processing power and camera capabilities, with a potential bump in RAM, though that may not be needed with iCloud," said William Power, analyst with Baird Equity Research.