Assuming there is also an accompanying OS update, as their has been with each successive iPhone launch, it will also be the first time iPhone owners have been charged for it.
Thanks to the restrictions placed on them by the same accounting rules which have required them to charge iPod Touch owners for previous updates, they must charge for updates released more than three years after an iPhone is sold. Changes to these rules could mean Apple can offer free updates for the life of the device. They would also be able, for the first time ever, to immediately show the full amount of revenue generated from the next iPhone launch on their books.
In the past that revenue had to be spread across the same period during which free updates were offered.