Apple is expected to announce the arrival of the new iPhone at its developer conference.

The company's chief executive, Steve Jobs, is likely to reveal the product at the exhibition in San Francisco which runs from June 9th-13th, according to the Los Angeles Times.

The newspaper reports that industry analysts believe that the future of the company may depend on the success of the new device.

How successful the new iPhone is could depend on the price upon release, with rumors circulating that Apple may cut the price to improve sales.

Charlie Wolf, vice president of Needham and Co, told the LA Times: "If Apple can build iPhone volumes up, let's say 20, 30, 40 million, then you will have an iPhone halo effect.

"The iPhone becomes the crucial driver to Apple's continued gains in PC market share."

Apple's Worldwide Developers Conference provides developers with up-to-date technical information from the company. It will host over 150 sessions from the company's engineers.