Will iTunes Phone Launch on July 7?

Some media outlets have been receiving invitations from Apple for a July 7th event, which could features launch of iTunes 4.9 with podcasting support. New iPods? Perhaps? The details are sketchy. However, there are some who are arguing that we could see the launch of the Motorola iTunes phone alongside the new software. Argument: Apple launched iPod Photo at an event last year in San Jose, and this could be a repeat of that.