Posted by Brian Schultz

Apple’s Worldwide Developers conference begins today in San Francisco and there is significant speculation that the tech giant will launch a new version of the popular iPhone.

Followed by a keynote led by Apple marketing boss Phil Schiller, Apple execs will show off parts of the new iPhone 3.0 operating system.

Some new iPhone features that consumers will most likely see include a faster processor, more storage capacity, digital compass and a higher resolution camera among other things.

The phone will likely look like the existing model, but with a matte, rubbery back for better traction on surfaces.

UPDATE: 2:00 p.m. – Apple announced today the release of the iPhone 3G S, which will be available on June 19. Read more here.

– With files from BusinessInsider.com

See Also:

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• iPhone 3GS Hard to Come By for Canadian Customers