Vodafone-Apple, Then Faster iPhone?

Shares of Vodafone ended Tuesday down 0.4% at $31.95. Apple ended up 1% at $186.66.

RBC Capital Markets analyst Mike Abramsky said that Apple's new agreements with Vodafone and Telecom Italia expands iPhone opportunity to 331 million wireless subscribers and should help accelerate momentum and market share, and he agrees it could signal the launch of the long-rumored launch of a new 3G iPhone.

"In our view, a 3G iPhone remains on track for a global June launch," said Abramsky in a research note. He adds that by expanding its global addressable market, Apple could ship as many as 14 million iPhones by the end of 2008, which is well ahead of Apple's own goal of 10 million units.

Abramsky notes that most of the countries could see the launch of a 3G iPhone. Only India, Turkey and the Czech Republic do not currently have 3G networks that would support the higher transfer speeds.

Additionally, Abramsky notes that Vodafone and Telecom Italia are non-exclusive in Italy in order to tap into a market where pay-as-you-go deals are favored over traditional wireless subscriber contracts. As 91% of subscribers in Italy use pre-paid phones, he expects the iPhone to be offered with no contract, similar to how Research In Motion (RIMM Quote) makes its Blackberry device available.