iPhone 5
iPhone 5Martin Hajek

Apple's special hosting event on Sept 12 is just around the corner, triggering frenzied speculation that the Cupertino giant will pull the wraps off its much awaited iPhone 5. With less than a day to go until its due launch, here are the latest reports of the fifth-iteration device, from the pre-order date to its pricing.

So when would the pre-orders start? Buzz on the pre-orders is that the tech giant would open the pre-order window on Sept 14, one week before the iPhone 5 is up for grabs. The new iPhone is also expected to hit retail shelves exactly nine days after its Sept 12 announcement. However, it may take a while before Apple starts shipping the smartphone to all countries.

Earlier, it was speculated that Apple for the first time would start accepting the pre-orders for its new iPhone on the same day of its launch.

The iPhone 5 features are expected to take Apple lovers by sheer surprise in terms of giant specifications and features. Generally, prospective buyers are expected to shell out extra bucks for newly launched devices. On the contrary, with the iPhone 5 one doesn't have burn a hole in the pocket.

Latest reports suggest that Apple may not up the ante in terms of pricing. The company is expected to keep the price tag of the iPhone 5 similar to that of its predecessor.

A report on 9to5Mac, suggested that Apple's codename for iPhone 5 is N42 and its price will not go up. "New iPhone N42 will come in the same prices as the iPhone 4S. With this, we speculate that the configurations will remain at the iPhone 4S's 16GB, 32GB, and 64GB capacities," the tech-based website said.

Earlier this month, an analyst foresaw that Apple would sell ten million units of the iPhone 5 a week into its announcement. "Market watchers generally expect that Apple will report sales of between 22 million and 23 million iPhones in the September quarter. But a launch of the next iPhone this month could push total sales as high as 28 million," Gene Munster, analyst of Piper Jaffray, said according to Apple Insider.

Presently, speculations on iPhone 5 specifications remain the same - a larger screen at 4.5 inches, 4G LTE capability, thinner form with sleek casing, and a faster processor.