MaineCoasts writes "The Times Online reports that European sellers of the iPhone are braced for 'significant losses' on unsold inventories of first-generation iPhones which must be cleared away for the new 3G versions expected in June. The three European distributors of the iPhone 'sold 330,000 units to the end of December, but industry sources say that European sales of the iPhone were forecast to be between 500,000 and 600,000.'"
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