Keeping this short and brief, a search of the “iPhone 5” on Apple’s site will lead users to actual results, meaning that the “new” iPhone will in-fact be called the iPhone 5. At this moment, we’ll have to go with that source until Apple’s iPhone 5 announcement later today.
It doesn’t make sense as to why Apple would call it the iPhone 5, especially after the “new” iPad wasn’t given a number for its revision. Theoretically, the iPhone 5 is Apple’s seventh revision of the traditional iPhone and Apple made it clear earlier this year that it was to drop numbers to promote new products, with the word “new” being a prefix for its future device names. We’ll have to wait a few hours and see exactly what Apple has planned for its new iPhone unveiling.