Times Online reports that European carriers T-mobile and 02 have overestimated the demand for iPhones, resulting on unsold inventory sitting in their stores, which they are now putting on sale at steep discounts.

The German T-Mobile dramatically reduced their iPhone prices up to a whopping 300 Euro, while 02 has cut the 8GB iPhone price, reducing it by




100 pounds.

According to Times Online, Apple has completed a 200,000-unit order with its Asian suppliers of the new 3G iphone by the end of May, which is supposed to be increased to 2 million units in June. The report also says that the high-end 3G iPhone would be “dramatically” different from the current iPhone in the market today.

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