Apple Inc. CEO Steve Jobs, right, is expected to debut his company’s latest gadget at a conference in San Francisco today: the next-generation iPhone.

Jobs is rumored to be revealing the highly anticipated new phone during the sold-out Apple Worldwide Developers Conference at the Moscone Center today. Reports say the phone is likely to take advantage of the new 3G cell phone technology, which would allow iPhone users to surf the Web faster, as well as play games and use other applications that only work properly with faster download times.

The phone is also rumored to have a larger capacity than its current form of either 8 gigabytes or 16 GB.