Apple iPhone 4S will feature Apple's A5 chip

Now he is introducing the "iPhone 4S." There's tepid applause from an audience expecting an iPhone 5.

The 4S will feature Apple's A5 chip, used in the iPad 2. The new chip will help a lot with games, said Schiller. Now he invited Mike Capps, the president of Epic Games, on stage.

Capps is giving a demo of a new game with some impressive graphics.Now the big question is: After the iPhone 4S introduction, will there be "one more thing" in the form of an iPhone 5?