Second Generation iPhone Almost complete

Researchers over at Goldman Sachs have been mighty busy this holiday season. According to the researchers, Apple is in the final stages of producing the next generation iPhone which should debut mid-year as well as "a smaller upgrade with more flash memory" version earlier in the year.

It doesn't take a rocket scientist to figure out that Apple was already hard at work on iPhone version 2.0 as soon as the iPhone was released. Looking at Apple's past release history it shouldn't be surprising to see the next gen announced sometime during the summer of 2008. I expect to see a "refresh" or upgrade to the iPhone in March or April. This is probably the iPhone you'll want to look at but not purchase since 3 months from that time iPhone v. 2.0 will probably be released.

iPhone 2.0 will of course have 3G but will probably retain most of it's design with a few modifications. Apple will gain momentum when they release the SDK for iPhone in February, which is why I suspect a "refresh" iPhone with more memory in March to coincide with the need for more space.

Read more about Goldman Sachs findings here.