THE next version of the iPhone, one of the most recognisable gadgets of modern times, is set to be unveiled by Apple today.

The iphone has witnessed record-breaking sales highs and controversial lows since its first version went on sale in June 2007.

Today, Apple looks set to unveil a special edition device believed to be called the “iPhone X” when the technology giant holds a live event at its new California headquarters.

Details of the new model were revealed in an apparent leak after the name of the phone, along with two others called the iPhone 8 and iPhone 8 Plus, were reported by two news sites given access to an unreleased version of the iOS operating system. The special edition phone could also reportedly feature a 3D face-scanning camera and remove the traditional home button from the front of the device for the first time.

Today’s launch event will mark the tenth anniversary of the smartphone. The first iphone was unveiled in January 2007, and went on sale six months later in the US and 11 months later in Europe amid passionate Apple fan reaction and queues outside retail stores. About 3.4 million units were sold that year.

The company went on to break its own sales records on a number of occasions. In 2011, the iPhone 4s – introduced the day before the death of Apple founder Steve Jobs – became the first iPhone to sell a million units in its first 24 hours.

When the iPhone 6 and 6 Plus were unveiled in 2014, four million weresold in the first 24 hours and ten million in the first three days of availability. In 2016, the billionth iPhone was sold.

The company has had some low points linked to design flaws and user backlash over changes to key features. In 2010 the introduction of the iPhone 4 involved the phone’s first major redesign. Some users reported holding the phone a certain way affected their signal, forcing Apple to issue advice on how to hold the phone to prevent phone calls dropping out.

And in 2014, some users of the new 6 and 6 Plus reported their devices bending when sat on or placed under pressure.

TODAY’S event will be the first event to take place at the firm’s multibillion-dollar Apple Park campus, inside the Steve Jobs Theatre.

A new Apple Watch and a 4K resolution Apple TV are also reportedly due to be announced.

Industry analyst Ben Wood, from CCS Insight, says despite the range of announcements expected from the tech giant, little will change in the smartphone arena.

“We don’t think the new iPhone devices will have a particularly big impact on the smartphone market. Apple already dominates the space in terms of the profits it makes with the iPhone and its share remains strong,” he says.

“We don’t expect this to change. As is always the case, innovations in the iPhone often get replicated in rival devices, and augmented reality will certainly start to feature more prominently from other players.”

There have been reports the special edition phone could be priced as high as £1,000, but Mr Wood doesn’t believe this would be a barrier for some consumers.

He says: “The media seems to have become obsessed with the idea of a £1,000 or $1,000 iPhone. The reality is that if you buy a top of the line iPhone 7 Plus today it will cost you £920. A further £80 is going to make little difference to die-hard Apple fans who always have to have the latest and greatest.”

Apple announced a new augmented reality (AR) platform for app developers earlier this year – an area of technology which mixes real and virtual imagery on one screen, and is expected to expand greatly in the coming years. However, smartphone expert Ernest Doku, from uSwitch.com, says Apple needed to recapture the public’s attention in the wake of increased pressure from rivals and changing consumer demands.

“After a somewhat muted critical response to last year’s 7 launch, the iPhone’s latest iterations will need to upset the apple cart if they are to return the device to the top of the heap in the innovation stakes,” he says.

“Despite a commercially rapturous response to last year’s hero handset, Apple still faces an uphill struggle to win hearts and minds.

“While the suggested addition of wireless charging and a 3D dual lens camera will undoubtedly please innovation-hungry iPhone fanatics, the tastes of mobile customers are fundamentally changing.

“The boom in SIM-only contracts – which now command a 30 per cent market share – shows that the concept of flexibility is increasingly taking precedence over the acquisition of contracts that subsidise the purchase of high-end handsets.”