In just over a month, the wait may be over.

For much of its history, Apple has released a new iPhone each year like clockwork. Typically the announcement of the latest upgrade comes around mid-September. And while confirmation is pending, Apple will likely unveil the iPhone 6 at a media event has been set for Tuesday, September 9th.

Two new iPhone 6 models will reportedly be unveiled. The new devices will support displays of 4.7 and 5.5 inches. Suppliers have been asked to make 70-80 million total units of the new phones. There is also the possibility of an announcement of the much-rumored iWatch. However, many suspect it will be announced as a separate accessory event later in the year, with availability before the holiday season.

The potential timing of the launch suggests the latest Apple releases could be available in stores as early as Friday, September 19th. The device giant has already forecast revenues of between $37 billion and $40 billion in the September quarter, which makes this announcement an important one. Potential pre-sales could represent an increase of 3-7% on the year. If past sales performance of new Apple products is any indicator, a wave of online and in-store sales should allow Apple to generate significant revenue for its September quarter.

Apple derives the majority of its profits from sales of the iPhone, but it has faced mounting pressure from Asian manufacturers like Samsung and Chinese manufacturers Huawei and Lenovo. Even new competitor Xiaomi, in just its fourth year, has made a mark as the fifth largest smartphone manufacturer in the world by shipments.

Still, Apple revenues have been growing and the company had a record-setting month for app store revenues in the month of July. With the media event scheduled for its newer devices, the remaining month could still generate a huge spike in additional revenue as the media date nears.