Submitted by: kirkland on Friday November 17th, 2006 at 06:44 PM EST

According to reports, Apple's much talked about iPhone has been confirmed for mass production at Hon Hai Precision, otherwise known as Foxconn. The report was issued today when sources close to Foxconn told reporters in Taiwan. If the sources are correct, Foxconn secured the order from Apple to produce roughly 12 million iPhone units.

Apple is expected to launch the iPhone sometime in the first half of 2007. The product has been long in waiting and is expected to combine the functionality of Apple's popular iPod with the communications capabilities of a mobile phone. Some analysts are expecting that while the first generation iPhone units will lack smart phone features, Apple will follow-up with an "iPhone Pro" for business folks.

Expectations are high for Apple's iPhone. Analysts predict that Apple will gain roughly 1 percent market share of the mobile phone space in under a year's time, equating to roughly $2 billion. No further details of Apple's contract with Foxconn for the iPhone was released.

» Full story @ Daily Tech