Get in line now - iPhone 3G release on July 11th

With the new, lower price of the iPhone 3G that Apple releases July 11th, it is expected that demand will exceed supply.

Reuters.reported this statement from Morgan Stanley: "We believe the market generally expects a doubling of iPhone units with the lower price point ($199) and we believe this is realistic, if not conservative." The bank expects 27 million iPhones to be sold in calendar year 2009 "with an average revenue of $550 per unit."

As Mia wrote recently, the next-generation iPhone features a faster Internet access that will run on advanced wireless networks. That in itself is enough to get most of us iPhoners excited. See you in line.