Yes, its here and will be revealed in some hours the new iphone that should be called iPhone 5 as apple themselves indicated in their press invite which you can see in the image below.
As there is much speculation about the new iPhone 5 screen will be taller than iphone 4, 4s but the width of the iphone screen display will remain the same, which means there be a new aspect ratio. If we take a look at the old iphone it had 3:2 aspect ratio when iPhone 4 and 4S had an increase in screen resolution to 960 x 640.
With iPhone 5 coming up with new resolution of 1136 x 960 and a new widescreen aspect ratio of 16:9 this resolution will definitely improve the multimedia experience like watching movies and videos on the new iphone as it will remove the black bars you see on the right and left edge of the which you might have seen while watching HD movies on your iphone.
What Will Happen To Apps?
As per some news about this some apps may be able to easily adjust themselves to this new resolution, while others may have the difficulty in adjusting with the new resolution. However apple has already given a hint about the new Auto Layout feature which can make app to display the contents as per the new resolution.
The Auto Layout feature has been shown to add an extra row of app icons when the 1136 x 640 resolution is used on iOS 6. The on screen keyboard keys will be spaced out a little more now at the new resolution on new iPhone 5.
Finally to conclude this, most of the apps on new iphone 5 will work fine with the new resolution using the auto layout feature, while other apps will need to update themselves before they can run properly on the new iphone 5