Apple plans to announce its new iPhone 4.0 mobile operating system later this week, as the tech giant gears up for its next push to gain market share in the competitive smartphone industry.

The Cupertino, Calif.-based company sent invitations to media to attend an event at its headquarters this Thursday saying, "Get a sneak peek into the future of iPhone OS."

Apple's unveiling of its new iPhone platform comes on the heels of the launch of its iPad tablet computer. The company has been developing two versions of the new iPhone -- one for Verizon as well as AT&T -- rumored to be called the iPhone HD.

Both devices will feature an A4-class chip, a 960 by 640 pixel touch screen display, a front-facing camera and run iPhone OS 4.0 software with third-party multitasking and be available in the summer.