The buzz surrounding Apple’s World Wide Developers’ Conference (WWDC) is about to reach its peak, as the company is expected to release today its newest iPhone with hopefully, a faster 3G wireless connectivity.

The release of the first iPhone received many praises for its innovative touch screen interface but lost quite a few points for its slow 2G mobile network. Even so, the device quickly became one of the market’s best sellers with more than 5 million sold since its launch in June 2007 and the company expects to break the 10 million units barrier by the end of the year.

The new device will boost even further the iPhone’s 28 percent of the U.S. market share and apparently, AT&T, Apple’s exclusive U.S. carrier, plans a $200 subsidizing campaign, offering the device at a much more affordable price. At this point Apple’s 8 G-byte product retails for $399 and its 16 G-byte version is available for $499.

The rumours about the new smart phone are extremely many, ranging from a lower cost than its predecessor to a brand new touch screen technology, new design and numerous new applications.

Especially the European mobile carriers requested a 3G iPhone. In Europe, business users and consumers in 18 of the EU 25 countries are benefiting from commercial 3G services, and network deployments are underway in another 4 countries. The unavailability of a 3G service could explain the relative small impact of the iPhone on the global market where it only holds 5 percent.