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.