You can watch the iPhone 5 live event at the California Cupertino campus today with Best Technology. Apple promises to post every detail about their latest announcements on Apple.com. However, sites like our own will be covering the Apple event in real time. The event is to be kicked off by Apple’s newly-instated chief executive officer, Tim Cook. Cook will be the leader of the show, not Steve Jobs. Look for Scott Forstall, the chief of Apple’s iOS division to unveil iOS 5 and the iCloud. The show starts in about one hour and forty five minutes.

Keep in mind Apple will be providing a live closed feed to journalists in the United Kingdom who will have the opportunity to settle inside London’s Covent Garden Apple Store at about 6 pm (local time) and peel their eyes to the big plasma screens as Tim Cook takes the stage.

• The mp3 market is a “mature market,” he said, but it is still an important one for Apple.

• • 12:14 pm
  • Next up: Music

  Apple now has sold more than 300 million iPods around the world, said Cook. It took Sony 30 years to sell 220,000 Walkman cassette players.

• • 12:12 pm
  • And in the U.S., Apple’s marketshare among U.S. retailers is 23%, said Cook. “We have an incredibly high ceiling here — we have a lot to go,” said Cook.
• • 12:12 pm

  The Mac market grow 23% in the last year, said Cook — far outpacing the PC. Apple is now approaching 60 million users around the world for Mac laptops and desktops, Cook said.

• • 12:11 pm

  Apple OSX Lion has been downloaded over 6 million times, said Cook — 80% more than previous release, Snow Leopard. It took Windows 7 about 20 weeks to reach 10% of their install base, he said, but Lion did this in 2 weeks.

• • 12:09 pm
  • Mac Updates

  Cook said he is now going to walk through an update on each of the company’s product lines. He’s starting with the Mac.

• • 12:09 pm

  Apple now has six stores in China “and we are going to do lots more,” said Cook. The company now has stores in 11 countries.

• • 12:08 pm

  Cook is showing a video to “show the excitement and energy” around the company’s retail launches. Many of the scenes are from my old stomping ground, Hong Kong, where the Apple store is located in one of the most high-end and high-profile malls in the city, right next to Victoria Harbor.

• • 12:06 pm

  Now he’s showing photos from those store openings, highlighting the big crowds, and trademark Apple design, such as the glass spiral staircase in the new Hong Kong store.

• • 12:06 pm

  Apple “has enormous momentum,” he said — particularly in its retail stores. Now he is highlighting some new stores that just opened in Shanghai and Hong Kong.

• • 12:05 pm

  “Today will remind you of the uniqueness of this company as we announce innovation from our mobile operating system, to applications to services to hardware — and more importantly, the integration of all of these into powerful, yet simple and integrated experiences.”

• • 12:04 pm

  Now he is giving some back story on the room we are sitting in.  It’s called the Town Hall.  It was in this room that Apple introduce the iPod in 2001, he said.

• • 12:03 pm

  “This is my first product launch since being named CEO–I’m sure you didn’t know that.” he said

  “I love Apple,” he said. “I am very excited about this new role.”

• • 12:02 pm
  • It’s Apple CEO Tim Cook

  The music has faded, and Tim Cook just walked out on stage. He’s wearing a black shirt and jeans — but no turtleneck.

• • 12:00 pm
  • Who Will Take the Stage?

  The one question on everyone’s mind right now: What Apple executive will walk out on stage first?

• • 12:00 pm

  Back with more music now: The Rolling Stones’ “Jumpin’ Jack Flash.”

• • 11:59 am

  An announcer said the event is about to begin, and asks everyone to switch their electronic devices to silent mode.

• • 11:59 am
  • Music: The Who

  Shazaam tells me that The Who’s “I Can’t Explain” is playing on the speakers.

• • 11:57 am

  Today’s event is intimate compared to past Apple product launches, which often take place in giant venues in downtown San Francisco.

• • 11:55 am
  • Room is Buzzing

  The room is buzzing, as reporters swap stories about past Apple product launches and how Apple builds excitement for its new products.