Apple sets date for iPhone debut

Apple has tabbed June 29 as the official launch date for the much-anticipated iPhone. The company announced the date through TV commercials in early June that showed the smartphone users watching TV, listening to music and browsing through photos.

The launch date is in line with the June release window Apple announced in January when it unveiled the iPhone at MacWorld. The phone will cost between $500 and $600 depending on the amount of storage space. Apple plans to sell two versions of the phone with 4 gigabytes and 8 gigabytes of memory.

Apple has given AT&T a two-year exclusive as the service provider for the iPhone. And while nobody is sure how it will be greeted in the marketplace, given its high price tag, the company said grabbing just 1% of the cell phone market in 2008 would translate to sales of 10 million phones.

The arrival of the iPhone should generate plenty of heavy promotions later this month from rivals like Nokia and Motorola, who already have their smartphones in stores but are rightfully wary of the iPhone’s debut.