The equals sign means is equal to. It is telling us that one thing equates to another; that they are the same.
The iPhone 4 is the most recent iPhone to be discontinued from the iOS Update cycle. It did not receive the iOS 8 update, so it's final software version is iOS 7.1.2. You can update to this version through iTunes, or download it from an IPSW repository like this website: https://ipsw.me/.
Apple's event begins in. Apple's latest iPhone, expected to be called the iPhone 6s, is just around the corner. Last week, Apple sent out invitations to an event on September 9 at 10am Pacific Time (6pm BST), at which is widely expected to unveil the next generation iPhone.