You may watch it live : Apple Unveiling the next iPhone.
its no secret that Apple’s next iPhone is launching today and thanks to all the buzz built around it before the launch and to add to it there is unconfirmed news that the next iPhone is iPhone 4s with a price tag of $299 for the 64Gb version, $199 for 32 Gb and This phone will be the iPhone 4S with an A5 processor, the breakthrough Assistant feature, an eight megapixel camera, Nuance speech-to-text, and 1GB of RAM and the expected arrival in stores is 14th October ,well these are early unconfirmed reports.
Note:Here is an unofficial live streaming links for the iPhone 5 event which, in all possibilities, is fake. In any case keep a watch on it. You never know! and apologies if its not.