With all the flack Apple is taking lately over the antenna issues plaguing the iPhone 4, the company has decided to hold a press conference this Friday (Saturday morning in Australia).

This is a rare move for Apple, a company who generally doesn’t admit to faults in the devices it produces. That might be because they typically have very few, but with the iPhone 4, things have changed.

Too many complaints, several lawsuits, and a report condemning the new model and suggesting the iPhone 3GS over it – possibly the tipping point – has probably caused Apple to come out and talk about how they’re going to handle this situation.

Current speculation is pointing to an iPhone 4 recall, a move that is rumoured to cost Apple well over one billion US dollars.

No one knows what Apple will say this event, but we’ll have a round up of what’s going on early in the weekend.