Some tech experts and observers still seem torn over whether Apple will unveil an iPhone 5G, an iPhone 4S, or both today at its Let's talk iPhone event at company headquarters in Cupertino, Calif. But they need to wake up and smelll the reality of the iPhone 5G, since that is undoubtedly what will be revealed.

Consider only the news regarding Sprint Nextel Corp. late Monday. The Wall Street Journal reported that as Apple Inc. prepares to release its newest iPhone Tuesday, the terms it has squeezed from Sprint Nextel Corp. reveal the leverage it has over the telecom companies that once ran the show.

The paper reported that Sprint, the No. 3 U.S. wireless carrier behind ATA&T and Verizon, is making a multibillion-dollar gamble on the Apple iPhone. Sprint has apparently committed to buying at least 30.5 million iPhones, in a deal the company will lose money on until 2014.

Sprint has struggled in recent years, and the company is placing a huge bet on the iPhone. And it's a safe bet that even Sprint wouldn't bet that big if the iPhone 5G wasn't in the mix. If Sprint were just getting the iPhone 4, or new iPhone 4S likely to be announced, the commitment would likely be much, much smaller.

Possible, but unlikely -- even for a company desperate to get in on Apple's iPhone phenomenon.

Apple expects its new iPhone 5 to be a blockbuster success. Considering the iPhone is already the world's bestselling smartphone globally, that is no surprise. With a likely bigger screen (from 3.5 inches to 4), and other advanced features like voice Assistant and a better camera, the iPhone 5 seemingly can't lose.

Before anyone outside of Apple has apparently seen it, the iPhone 5 already looms as the most anticipated consumer product ever launched in the world. But because the iPhone 5 will likely have an Internet connection that runs three times faster due to the addition of HSPA+ connectivity, that's 4G like, Apple needs to get the product into the hands of more carriers to handle the data load.

AT&T's network, already under stress, certainly can't carry the load alone. And Verizon isn't enough to meet demand, in many respects. So it will require Sprint in the U.S. as well, and Sprint has apparently demanded that it get in on the iPhone 5 release from the start.

The company is placing a big bet -- but it's about as sure a thing as you could find in this marketplace.