According to Bank of America Corp., Apple will produce at least 11 million 3G iPhones by the end of the third quarter of 2008. This new phone will operate on AT&T’s faster network, which will provide Internet users with a significant speed boost. The range of its uses will be diversified even further, as it will also feature GPS navigation.

There is a close on-going competition on the phone market these days. Apart from Apple, the main players are Sony Ericsson, with its upcoming Xperia phone (touchscreen design with slide-open keyboard), Garmin, with its nuvifone, which is actually a GPS touchscreen device featured with a built-in phone and Research in Motion, with its highly anticipated 9000 BlackBerry.

The company, incorporated in 1977, was known as “Apple Computer, Inc.” for its first 30 years of activity. On January 9 last year, the company dropped "Computer" from its corporate name because Apple, once best known for its computer products, now offers a much broader array of consumer electronics products, most importantly, the iPhone handset.

According to a research Canalys recently made public, Apple sold an impressive number of iPhones in the fourth fiscal quarter of 2007. Although the iPhone had been on the market for less than six months, the smart mobile phone’s sales surpassed the number of Windows Mobile phones Microsoft sold in the United States during the same period. Things have been quite good for Apple so far and now, with the new 3G iPhone coming up, it appears they will get even better.