Live Blog: Apple iPhone 4 Press Conference

On Monday, Consumer Reports said that its testing had confirmed user complaints that holding the iPhone 4 over a particular spot drastically reduces the signal strength the unit receives. It reported that covering the spot with duct tape or a case alleviates the problem. As per previous practice, Apple had no comment and it continues to play this one close to the vest.

And so the inevitable guessing game in advance of the event has painted scenarios that are all over the map. Some analysts speculate that Apple might order a full product recall, a move which could cost the company as much as $1.5 billion. However, others said to be familiar with Apple's thinking in the matter cast doubt on that narrative, saying management likely will announce more modest measures. In late June Apple acknowledged reception issues affecting the smartphone in a note to users on its Web site. On Thursday, Apple released a software update for the iPhone 4, as well as the previous two iPhone models, that changes how reception is shown to the end user.