Apple has confirmed that it will release its long-awaited iPhone on June 29 in the US.

In a series of ads aired on 60 Minutes in the US last night, the California-based company revealed the launch date, ending months of speculation about when one of the most anticipated products would come to market.

The device, which combines the functions of phone, media player and PDA, will sell in two versions - costing $499 and $599 respectively - depending on the memory capacity, and be available only on one network, AT&T.

When he introduced the iPhone in January, Steve Jobs, Apple's chief executive, seemed reluctant to allow outside developers create software for the device, but at a conference last week he appeared to have changed his mind, saying that the company was looking for ways to work with outside parties.

The initial contract to make the iPhone was reportedly won by Hon Hai, another Taipai-based manufacturer.