Apple announces iPhone 5S, 5C

At last, iPhone fans! The moment you have been waiting for has arrived.

Although we're pretty sure we know what to expect from Tuesday's event, excitement for the keynote is riding high.

In addition to an updated iPhone (which will come in gold), Apple will also unveil its iPhone 5C, which has a plastic casing and a lower price point.

Some current iPhone users may be disappointed to learn the new operating system, iOS 7, will almost certainly not be released Tuesday.

Instead, the final version of the beta, known as the Gold Master, will likely be released to developers immediately following the event, with the software update pushed to current users around the same time the new iPhone 5S comes out.

Stay tuned for updates, below, as the event begins.

1:06 p.m. The event has officially begun. Apple CEO Tim Cook is running through updates.

1:11 p.m. Craig Federighi is reviewing all the updates to iOS 7, which was completely redesigned.

#Apple CEO Tim Cook is up on stage giving updates about the iTunes festival. pic.twitter.com/3WQ2YnpAuT
— The Straits Times (@STcom) September 10, 2013

1:17 p.m. The new operating system, iOS 7, will drop September 18.

1:22 p.m. Time to talk iPhone!

1:23 p.m. The iPhone 5C will completely replace the iPhone 5 (which won't be for sale anymore) and will be exactly the same size as iPhone 5S.

1:28 p.m. You pick a color and an accent case. It will have the A6 chip (the same as the iPhone 5), an 8 megapixel iSight, 5-element lens.

1:29 p.m. Prices! 16GB priced at $99, 32GB for $199. The cases are $29 each.

1:30 p.m. Jony Ive: "iPhone 5C is beautifully, unapolgetically plastic. Multiple parts have been reduced to a single polycarbonate component whose service is continuous and seamless."

iPhone 5C: "The team has created a really cool line of custom covers." (live blog) http://t.co/J0iUdP0QUc #Apple pic.twitter.com/AalufHWE7G
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— CNET (@CNET) September 10, 2013

The iPhone 5C is official. Are you digging the super colorful aesthetic!? http://t.co/xUN1Lh653d #Apple pic.twitter.com/9CdNPsyLb1
— NowThis News (@nowthisnews) September 10, 2013

LIVE: The iPhone 5C will cost $99 for 16GB and $199 with 32GB. http://t.co/BOb8OtgUmH #Apple pic.twitter.com/ICIXSw7Xz9
— Mashable Tech (@mashabletech) September 10, 2013

1:34 p.m. Nokia, on Twitter, gets sassy.

Thanks, #Apple ;) pic.twitter.com/x4w3r8Ghcy
— Nokia UK (@nokia_uk) September 10, 2013

1:35 p.m. iPhone 5S is official. So is the champagne gold.

1:37 p.m. The phone's chip, the A7, will jump from 32 bit to 64 bit. It will still run 32 bit apps.

#APPLE EVENT: First look at the iPhone 5S http://t.co/EEHBZovDdb 3 metal finishes: silver, gold and space gray pic.twitter.com/M2cEUoHoGt
— ABC7 Eyewitness News (@ABC7) September 10, 2013

1:42 p.m. Yes, those colors are white/silver, white/champagne, and black/space gray. So the old black/black model is gone.

1:45 p.m. The new M7 is a dedicated chip to to monitor accelerometer, gyro, compass data and takes that off the main chip.

It will connect with health type apps, including Nike's Fuel app.

1:47 p.m. Battery life takes a step up: 10 hours of LTE browsing, 3G talk time, 40 hours of music, 10 hours Wi-Fi, 10 hours of 3G browsing, 10 hours of video, 250 hours of standby.

La batería del #iPhone5S durará 10 horas http://t.co/dG1tobmOYo #Apple pic.twitter.com/C1o8pM1cju
— El Mundo (@elmundomovil) September 10, 2013

1:49 p.m. Camera! The pixels are larger, to capture more light, new 5-element lens with f/2.2 aperture, 15 percent larger sensor.

Picture app will set white balance and exposure when you open the app, before you take the photo. Improved flash, takes multiple pictures to choose sharpest image.

Faster video recording frame rate with slow mode (for video), burst mode (multiple photos)

1:56 p.m. Security: is it time for the fingerprint scanner?

Yep! It's called Touch ID. Using your fingerprint instead of a passcode.

1:58 p.m It has 360 degree readability, so you don't have to learn the orientation right, and can learn multiple fingers.

Yes, it is built into the home button, and can be used to unlock the phone (no more swipe), approve iTunes purchases.

OMG Lecteur d'empreinte annoncé !!!!!!!!! #iPhone5S #Apple pic.twitter.com/vdXpHcbZXv
— Albert - TouM (@Alb0sS) September 10, 2013

#Apple #iPhone El sensor dactilar está integrado en el botón home. El botón es de zafiro para evitar rayones. pic.twitter.com/GZSCBeVHSF
— CódiceDigital (@codicedigitalqr) September 10, 2013

You can unlock the iPhone 5S with your fingerprint pic.twitter.com/gE02PpQ7BY #Apple #iphone #tech
— │→ Ciaran Smith ←│ (@CallSign_) September 10, 2013

2:02 p.m. "The iPhone 5S is the most secure phone on the market."

2:03 p.m. The fingerprint data is stored on the A7, not anywhere in Apple's cloud.

2:05 p.m. Pricing: 16 GB is $199, 32GB at $299 and 64GB at $399.