Apple will announce the release of the new MacBook Air and Mac OSX Lion operating system as soon as Thursday, along with the iPhone 5 later this year in an effort to update entire product lines.

9to5 Mac released more news about Apple on Wednesday, stating Apple plans to release new MacBooks and Mac mini's along with the even thinner MacBook Air. Apple will be releasing four new MacBook Air models. This includes two 11 inch models and two 13 inch models; both screen sizes will come in entry level and upgraded configurations, the report read. Rumors surround the keyboard, which could possibly revive the backlit keyboard removed from the current MacBook Air generation.

Reports from 9to5 Mac have shown that a new MacBook air is in the imminent future for Apple, initially reporting its release for last week.  

While Apple has neither confirmed nor denied new product launches officially, there has been much speculation by industry analysts about the updates of current Apple product lines, including an update of its operating system.

It was widely rumored that Mac OSX Lion, the soon-to-be latest operating system for Mac, was to be released today -- but it was not. Introduced back in June, Mac OSX Lion has 250 new features.

The updated MacBook Air will most likely be the first computer equipped with the brand-new software. The new MacBook Air Machines will feature new faster Sandy Bridge processors along with the ultra-fast I/O connector technology ThunderBolt connector.

The current generation of MacBook Airs has Mac OSX 10.6, which was released over two years ago.

Upon its release, the new OS X Lion operating system will cost $29.99 for a software upgrade.

Along with iPhone 5 rumored to drop at the end of this year, Apple has intentions of releasing both the new MacBook Air models and OS X Lion software to increase its margins. Pcworld predicts that it will be the go-to device for executives and professionals.

See Also: CONFIRMED: Mac OS X Released In Days: Source