Apple fans are getting excited right about now because the new iPhone is on its way this month. The follow up to last years revolutionary handset, the new iPhone is packed with a load of cool new features and is already starting to create a buzz.

Steve Jobs, Apples chief executive, will take to the stage on Monday at the Apple Developers Conference but Apple are remaining tight lipped on what he will be talking about, but analysts are betting that he will show off a long-rumoured phone running on a so-called 3G, or third-generation, network.

What we do know is that the new iPhone will be accompanied by support for corporate e-mail and a slate of new programs that could help boost sales of the devices, which sport a touch-sensitive screen, wireless Internet access and iPod-style media functions.

Shiv Bakhshi, director of Mobility Research, for market research firm IDC said, “The thing for Apple is to be able to leverage the iPhone for further innovation, or they run the risk of being the next (Motorola) RAZR, which was iconic in its own way, but for which innovation did not come fast enough.”

One of the chief complaints about the current iPhone: the speed at which it calls up Web pages on AT&T Inc’s pokey EDGE network is likely to be addressed at the conference.

That is a particularly important concern in Europe, which is ahead of the United States in building new networks and where sales of the iPhone have lagged.

Analyst Avi Greengart said of a faster iPhone, “I see 3G as important for the U.S. but essential for overseas, it will be appreciated by technology enthusiasts and anybody who wants to get fast Web browsing outside the hot spots.”

There is also speculation Apple could bow to mobile industry practice and offer a subsidised iPhone, an arrangement where AT&T could kick in a couple hundred dollars to make the devices more affordable. At present time, AT&T already gives Apple a portion of the monthly service fees it gets from iPhone subscribers.

Ben Reitzes, an analyst for Lehman Brothers commented, “We think that actually Apple could talk about a very disruptive business model, or a change in their business model, embracing subsidies where necessary, multiple carriers to help get the iPhone into more hands.”

The new services Apple are expected to launch include the ability to download songs from iTunes using the phone network. IPhone users now have to be connected to a Wi-Fi network to get music from Apples online store.

Apple will also roll out its highly anticipated support for corporate e-mail, a capability it showed off earlier this year and that is expected to give iPhone a push into business, which now overwhelmingly uses Research In Motion Ltd’s Blackberry devices.