Apple Inc. is expected to release the newest version of the iPhone in the second quarter. The new iPhone, which is a high-speed wireless version, will be produced about 8 million units in the third quarter.
Apple shares closed up 2% (2.76) at $143.01 after Bank of America analyst Scott Craig predicted in a research report about the third generation phone. Shares of AT&T Inc, the exclusive carrier of the iPhone, closed at $37.66 after rising to $38.40 earlier in the day.
“Our latest channel checks point to a significant production build of a 3G iPhone beginning in the month of June after an initial small build in May,” said Scott Craig.
AT&T said last year It expects to sell a 3G version of the iPhone by 2008, but declined to provide a specific launch date.
Craig said Apple plans to produce more than 3 million high-speed iPhones by May and more than 8 million for the third quarter of 2008. He said that he expects the production volume to be higher than his previous estimate of 8 million units for the entire 2008.
Other analysts are expecting Apple to launch an advanced version of the iPhone around June, wherein the company will be holding a conference.
“it would make sense for Apple to bring out its high-speed iPhone in June around the time it launches an upgrade to iPhone software,” says Current Analysis analyst Avi Greengart.
Apple Inc expects to sell 10 million iPhone units by the end of 2008. Since the first iPhone version was launched in June, the company had sold more than 4 million iPhones.