Stephenson proclaims Apple’s faster iPhone, AT&T's expected in 2008

Randall Stephenson CEO of AT&T Inc. announced that coming year Apple Inc. will bring in a newer version of the iPhone which will offer faster downloads from the Internet. During a meeting of the Churchill Club in Santa Clara, California he added that the forthcoming device will operate on third-generation wireless networks. However, San Antonio-based AT&T is the scoop for the iPhone in the U.S.

``You'll have it next year,'' Stephenson said in response to a question about when the 3G iPhone would debut. He said he didn't know how much more the new version will cost than the existing model, which sells for $399. Apple Chief Executive Officer Steve Jobs ``will dictate what the price of the phone is,'' he said.

The reports dictate that till September end, Apple successfully made a sales record of 1.4 million handsets. So it is expected that Jobs plan to sell 10 million iPhones worldwide in 2008 will also get realised. It would establish Apple’s 1 percent share in the mobile-phone market of Cupertino, California.

In the views of Gene Munster, an analyst with Piper Jaffray & Co. in Minneapolis as the news will spread like fire regarding the launch of a newer version; so many people will lay off their hands.

What about the battery life when faster networks are on the way?

Jobs said in September that the iPhone's battery life would be too short if it supported faster networks. The handset has eight hours of battery life, and 3G chips are ``real power hogs,'' he said at a news conference in London.

``We've got to see the battery lives for 3G get back up into the five-plus-hour range,'' he said. ``Hopefully we'll see that late next year.''