The event is on Sept. 10 at Apple headquarters in Cupertino, California.
Apple is trying to win over consumers in Asia (China, India, e.t.c) where rivals Samsung Electronics Co Ltd and other Android manufacturers dominate.
Rumors have Apple to launch two new models this year - widely referred to as the iPhone 5S - with new fingerprint technology as well as a cheaper version in plastic casing.
Apple is expected to dress up the phone in a range of five or six colors to differentiate it from the more expensive model that has traditionally come only in black and white.
Chief Executive Officer Tim Cook also will release iOS7, an overhaul to Apple's iOS mobile operating system, which powers the company's iPhone, iPad and iPod Touch devices. Apple previewed the software's redesign in June.
Apple has also invited Chinese journalists to an event in Beijing on September 11, just hours after it is expected to unveil its newest iPhone models in the United States.
The event has fuelled speculation that Apple may announce a deal with China Mobile Ltd, which is the world's biggest mobile phone company by customers and the only one of China's big carriers that does not have an agreement with the U.S. tech giant.