If the rumors are correct, the release of a new iPhone by Apple may not be too far off. The new iPhone, which is expected to operate on the faster 3G network, could be in production as early as May after reports that Apple has ordered 10 million of the upgraded units. This move comes after the 2.5G iPhone did not do as well as expected in the European market. It is crucial that a 3G iPhone is produced in order reach customers who want high bandwidth applications. A 3G iPhone will also reduce the reliance on WiFi. Furthermore, Apple is in a dispute with its French service provider after it was told that French law prohibits the sale of phones locked to a provider.

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have been reports that Apple has placed an order for 10 million iPhones running on the 3G network from Asia. Similarly, Apple ordered the first batch of 10 million iPhones running on the 2.5G and EDGE network from an Asian contract supplier and manufacturer. The new and improved 3G iPhone is also believed to use an OLED (organic light emitting diode) display, making this revision much thinner than the previous, as well as improving battery life. Additionally, the Huffington Post has reported that iPhones in all three New York Apple stores are sold out.

With all the new surrounding Apple and the production of a new iPhone model, Apple has seen a 2.5 percent increase in its share price, seeing a rise from $141.04 to close at $144.56.