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The iPhone 7 and 7-plus, due to be unveiled by Apple (AAPL) - Get Apple Inc. Reporttoday, haven't generated the same buzz as the new models introduced two years ago.

That may be because of rumors that next year's iPhones will sport several eye-catching new features or the fact that American consumers have been waiting longer to upgrade their smartphones as traditional smartphone subsidies disappear.

Either way, Apple may find it more difficult to convince iPhone users to upgrade to the model it's announcing at 1 p.m. Eastern Time. We'll bring you all the latest details here, as they develop.

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This article was written by a staff member of TheStreet.