Enlarge / This is the Steve Jobs Theater at Apple's Cupertino campus, where the iPhone event on September 12 is likely to be hosted. Granted, it will probably be a pre-recorded video. (credit: Samuel Axon) Together, the iPhone and Apple Watch account for more than half of Apple's business—and those two product lines get updated like clockwork every year around September. The cat is already out of the bag for this year; Apple is expected to hold a live event on September 12 to announce its new iPhone and Watch lineup.