Apple is really working in hyper speed this year. Only a few days after iPad went on sale, Apple has sent invitations for, yet again, another product launching. This event will be held at Apple’s sprawling complex at Cupertino, California at 10 am (Pacific Time) this Thursday, April 8th.

The invitation came with an enigmatic “Get ready for a sneak peek into the future of iPhone OS.” Of course, this line got tech bunnies hopping for more details and in just a few hours, rumors about certain details of the event just spread like wildfire in the Internet.

According to Apple Insider, iPhone OS 4 developers have found a way to support multi-tasking on the new OS. Their source however did not divulge how this new feature would affect power consumption and battery life.

The iPhone OS inability to allow simultaneous running of programs in the background has been considered as iPad’s caveat. Though jailbreaking may seem to solve this for some, this only opens up security issues for the iPhone OS not to mention the rampant piracy it will encourage. Apparently iPhone 0S 3 is technically capable of supporting concurrent programs running in the background but Apple elected to put propriety restrictions to apps not bundled with their system.