New Delhi: The launch of the Apple iPhone 7, the most anticipated smartphone of 2016 is less than 12 hours away and it has put the tech world in a frenzy. As per reports, Apple will be launching two variants on Wednesday – iPhone 7 and iPhone 7 plus.

Like every other launch of Apple the event will also be streamed live. The launch of the smartphone will be hosted at Bill Graham Civic Auditorium in San Francisco.

Apple is expected to phase out the 16GB and 64GB models and add a bigger 256GB variant instead. As a result, Apple iPhone 7 and iPhone 7 Plus models will come in 32GB, 128 GB and 256GB variants. Both the iPhones are also likely to get a RAM boost.

Reports suggest that the iPhone 7 will be powered by Apple’s new A10 chip offering a maximum clock speed of 2.4 GHz. Experts also hit that this time Apple might make the phone 1mm thinner.

An additional feature of the phone is that it will be water proof so one can carry his phone while swimming. Apple’s rumored wireless “AirPods” earbuds may also feature in Apple iPhone 7.  The price of the basic model of the phone i.e iPhone 7 32 GB is expected to be around £595 which converts to around Rs 53,000.