Last week’s iPhone 3G launch appears to have been a success, with the device sold out in virtually all U.S. locations. Calls to local AT&T stores in the metropolitan Chicago area, for example, turned up no phones, and faraway wait lists. Reasons for the shortage range from Apple underestimating demand to a shortage of components from overseas suppliers.

An Apple fan site cited an AT&T memo to store managers noting that iPhone 3Gs will not be available for 10 to 14 days, while other reports indicated the iPhone 3G was sold out in all Apple stores with no new stock expected for at least two weeks.

Some analysts questioned whether the shortages were real or artificially created to build buzz and further increase demand. But with shortages lasting weeks, carriers with competing products, such as the RIM Blackberry, the Samsung Instinct, and the LG Voyager, will likely step up marketing efforts.

More than one million iPhone 3Gs

were sold during the initial weekend. Some stores reported a steady stream of sales as expanded as stock held out. The device is in high demand as it provides features that the original lacked — namely, GPS and high-speed 3G. The 3G capabilities, in specific, are pushing units out the door and may explain the shortages.

Worldwide Black Market

3G is a nearly ubiquitous phone transmission medium, built for universal use. Some analysts believe many of the iPhone 3Gs sold in the U.S. are winging their way across the globe to countries such as China and Russia where the iPhone is not yet scheduled to be sold. Reports of Russian and Chinese sales indicate the devices are entering these countries somehow.

In addition to these black markets, the iPhone 3G is sold in 20 countries other than the U.S., further putting pressure on inventories. Apple will launch the iPhone…

Original post by Top Tech News