Rumors have floated around for quite a long while--years perhaps--that Apple is working on a phone (informally dubbed the iPhone). It is assumed that such a product would provide some combination of cellular phone and iPod-like functionality.

FreeiPodGuy has refrained from commenting on this very much, for two reasons. First, it isn't an iPod. Second, up until this week, we've had very little to go on except rumors.

On the first point, although the iPhone wouldn't be an iPod exactly, it is conceivable that it would be of interest to iPod users who would like the extra functionality in their next cell phone.

More importantly though, according to industry analyst Shaw Wu as cited by Reuters the iPhone might be more than just vaporware.

"From a technical standpoint, the phone is pretty much done," said American Technology Research analyst Shaw Wu. "It's a big endeavor and we believe it's beyond speculation."