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Tomorrow at 10am PT, Tim Cook will appear on stage and present what must be one of the most anticipated consumer electronics products in history. For months now, we have written, read and heard about it; we have seen blurry images and rendered videos supposedly showing the next iteration of Apple’s flagship product: the iPhone.

The iPhone 5 (the name has been all but confirmed by now) will mark the first major redesign since the iPhone 4 was introduced in June 2010 and the pressure on Apple is immense. In the past two years, competitors have caught up with Apple and released smartphones that some consider superior to the iPhone.

In the quarter ending June 30, iPhone sales accounted for 46 percent of Apple’s revenue. Apple’s overall results that quarter were considered disappointing by many and iPhone sales were arguably the main reason for the company’s weaker-than-expected performance.

The new iPhone (originally rumoured to be released in October) is scheduled to hit the shelves on September 21, early enough to avoid another disappointing quarter. Apple analyst Gene Munster believes that, barring supply issues, Apple could sell 6 to 10 million iPhones in the last week of September, at least partly offsetting withheld purchases of the preceding weeks.