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iPhone 7 release date, specs rumors: Apple Event 2016 confirmed for Sept. 7

Will iPhone 7 create a miracle for Apple brand\'s waning popularity? | REUTERS

After months of swirling rumors in the lead-up to Apple's key tech event of the year, the Cupertino-based giant has officially set Sept. 7 as the date for the company's highly anticipated presser in San Francisco. Most people think the next-generation iPhone will be the highlight of the media-hyped occasion this fall alongside the possible introduction of Apple Watch 2.

Previously, industry pundits and tech observers were often given teasers of what to expect in the upcoming event that usually falls around this time of the year. This time, however, the company did not drop hints of what's coming up apart from the usual smorgasbord of speculations that fans get from the rumor mill. The venue is set in the same location where the American tech giant makes its product introductions, the Bill Graham Civic Auditorium.

Rounding up the speculations, iPhone 7 will reportedly sport modest upgrades from its iPhone 6S predecessor. So far, analysts do not expect a massive iterative innovation as this will be reserved for the upcoming iPhone that is generating quite a lot of noise lately ahead of its presumed launch around the same time next year. Per 9 to 5 Mac, one of the widely expected changes to Apple's seventh-generation smartphone include the removal of the headphone jack which will be replaced by wireless Bluetooth headphones that connect to the Lightning port. The upcoming flagship may arrive in various color offerings and in two variants, namely, the standard iPhone 7 and the iPhone 7 Plus. The latter is expected to feature a dual camera system for low-light shooting.

In addition, the company will also livestream the event to all mobile devices with iOS 7.0 or higher which starts at 1 p.m. EST per Fortune. To watch the show, users of iPhones, iPads, or iPod Touch devices can watch the stream through the built-in Safari browser.