Apple's much-awaited iPhone5 is expected to be released tonight (4am Australia time) at an event held in Apple’s head office in Silicon Valley. Here are issues that may emerge in the announcement, according to Advanced Human Technologies Chairman Ross Dawson, a globally-recognised futurist and technology expert primarily based in Australia:

How many phones?
There may be just one phone released: a successor to the iPhone4. There is a strong possibility that two phones will be released, including a low-cost phone suitable for young people and to gain market share in developing countries. There have been rumours that up to four phones will be announced.

Is Tim Cook the next Steve Jobs?
In this first prime-time performance in his CEO role, people will be judging whether Tim Cook is a fitting successor to Jobs or not. They will also look to see whether Jobs presents at the launch, and the relative roles of Cook and Jobs in the launch. How Cook’s performance is perceived could significantly impact the Apple share price.

Will the virtual assistant be intelligent enough?
Apple’s purchase a year ago of an artificial intelligence company Siri suggests that it will bundle an "intelligent assistant"into the phone, which will be able to understand and respond to voice instructions. If this comes out, a critical question will be how good it really is, as well as, whether it will be available on earlier versions of the iPhone.

What new features?
Specific features analysts and consumers will be looking for include increased screen size (which would need a change in the phone case), 8MP camera, 64GB storage, as well as faster processors.

What will it be called?
Phones released might be called the iPhone5, the iPhone4S (a low end device), or possibly an entirely new name.

What social media integration?
The most recent version of the iPhone operating system provided for integration with Twitter. This time it might be deep integration with Facebook.

Will there be an AppleTV launch?
Web TV is one of the massive growth markets of coming years. Apple hasn’t cracked it so far. Google, with its acquisition of Motorola Mobility, is very well placed. Given Apple’s positioning, it needs to win in TV. A likely launch will be integration of iPhone, iPad, and Apple TV to provide a “social TV” experience. In fact, the entire event may centre as much on TV as phones.

What are the implications in Australia?
Australia is in the top 3 countries in the world in our love for the iPhone. Will the new release consolidate that, or disappoint and allow the new generation of Android phones to gain ground? Australian telcos will offer special deals to attract iPhone5 buyers, benefiting consumers.