The night and next few days may belong to Palm, but Apple may be looking to take their thunder away. Rumors have it that one of the new iPhones may go on sale as soon as WWDC. Now that's only four days from now! The Financial Times is stating that “people familiar with the initiative” is hinting towards a possible lower priced iPhone; possibly coming in at a $50 to $100 price lower than the current 8GB price point of $199. On top of that, it is speculated that it will be available the same day as the event on June 8. We would gather that Apple wants to steal away some of the spotlight from Palm. We'll have to wait and see what will happens next.
source: Financial Times
The new iPhone is now officially announced - you can check the Apple iPhone 3G S Specifications here