What Is Steve Jobs Announcing Monday? Here’s The Scoop About iCloud & Time Capsules [Exclusive]

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Apple has already revealed that Steve Jobs will talk about iCloud, iOS 5 and OS X Lion during his WWDC keynote on Monday morning.

In addition, it’s rumored that Apple’s wireless Time Capsule backup/router will get a big update.

Here’s how iCloud and the new Time Capsule will work, according to a source close to the company who asked not be identified. It’s pretty surprising:

Ex-Apple Designer Predicts “Huge Changes” From iCloud at WWDC

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When Apple reveals iCloud at WWDC on Monday, it’ll have the kind of impact the iPod has had, predicts Kevin Fox, a Silicon Valley software veteran who’s worked at Apple, Yahoo and Google.

“The rumblings are huge,” says Fox, lead designer at Mozilla. Fox worked on Newton software before designing Yahoo’s chat service and then software for Google (including Gmail 1.0, Google Calendar 1.0, and Google Reader 2.0). He continues:

… given the complete failure of MobileMe over the last decade there’s no way Apple would introduce [iCloud] on such a pedestal unless it’s incredible. My guess is that iCloud is to MobileMe as iPhone was to Newton: a complete, deep, polished solution after an underwhelming market failure.