San Francisco, Sep 28 - Apple Inc looks set to introduce its iPhone 5 at a special event next week.

The invitation-only event will be held Oct 4 at Apple campus in Cupertino, California, Xinhua reported Tuesday.

This could be the first big product launch by the newly installed chief executive officer Tim Cook after he took over the reins of Apple from Steve Jobs in August.

According to US media reports, the iPhone 5 is expected to have a larger screen, a higher resolution camera and a faster dual-core A5 chip on which the iPad 2 runs.

Apple is also reported to release a low-cost and contract- free iPhone model bundled with its cloud computing service iCloud. (IANS)