The document summarizes Apple's newly announced iPhone, which combines an iPod, mobile phone, and internet communication device. It has a 3.5 inch touch screen, supports WiFi, Bluetooth, and cellular networks. It runs Apple's OS X operating system and allows access to the iTunes music and video library. It also has a built-in 2 megapixel camera. The document analyzes the iPhone's market positioning and potential uptake, noting its appeal to consumers but challenges entering the corporate and developing international markets. It conducts a SWOT analysis and recommends opening the OS to developers and supporting VoIP features to expand the iPhone's capabilities.