|Jeff Bezos, Chairman and CEO of Amazon.com, introduces the Kindle Fire.|
Apple confirmed on Tuesday that its next big product event will take place on Tuesday, Oct. 4, likely marking the debut of the new iPhone 5. The launch at Apple's Cupertino, Calif. HQ will be the first of the post-Steve Jobs era, representing a crucial moment for the company's new CEO Tim Cook. The new phone is expected to run on a dual-core processor with a better camera. There has also been chatter about a stripped-down iPhone 4 to sell into expanding markets such as China. Apple also hit the headlines this week over its sprawling global patent battle with Samsung. The South Korean tech giant, however, reportedly offered an olive branch to the iPhone maker in one local dispute, taking place in Australia. Apple's stock ended the week down $9.39, or 2.4%, at $381.18.