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For the uninitiated, Apple is holding a media event on September 1. It is expected to be a music-related event where the new iPod touch will show its face.

However, analyst Shaw Wu with Kaufman Bros claims that Apple might show more than an iPod touch. In a note to investors he says that Apple could also reveal a smaller iPod nano sans the clickwheel at the event.

“We frankly are not sure if this model will see the light of day. But this would be a big departure from the design it has had since 2005 when it replaced the iPod mini. From our take, a radical refresh may make sense to jumpstart what was once its top-selling iPod,” Wu said.

Wu also threw some light on upcoming iPod touch which he says will have features similar to iPhone 4 and the entry-level model will be previous generation’s iPod touch that will start from $199.

[Via Appleinsider]