The industry is back to speculating as Apple plans another launch event in the UK and the US. Apple did not reveal anything regarding the press event, but the invitation image does have the words, "One more thing..." prominently displayed across a red curtain. The iPod maker applied a similar strategy when it launched the iPod Nano, the smallest iPod in its family.

Apple CEO Steve Jobs declined anything and everything related to the video iPod, stating that the market demand for such a device was minuscule and other multimedia companies have had a troubling time in making their video players succeed.

Regardless, the speculation continued on, and today, the speculation appears to be an alleged confirmation from Apple Insider, an online publication that covers Apple related stories and speculations. The website claimed confident sources have seen the iPod video and said it could go on sale as early as next week.

The launch would also introduce an updated version of iTunes with added options to purchase videos.

The news of video iPod ever becoming a reality started when record executives claimed that they had been briefed on a video iPod, and Apple was in negotiation to retail videos. Users also claimed that they had seen "Buy Video" and "Add Videos" buttons in the iTunes image resources.

Industry analysts believe if any company could bring video players to the mainstream market, it’s Apple. Even though Apple would have a struggling time to garner interest in the video iPod, Apple would more than likely pull it off, according to analysts.

Thus far, reports claim that video iPod would be more or less like a regular iPod, but with a smaller click wheel (similar to the one integrated on the iPod Nano) to increase the overall screen size. It’ll come in a 60GB flavor initially.

The press event is scheduled to take place in the BBC Television Center in UK and the California Theater in San Jose in the US.