Have you heard this new Buzz, "IPhone"?

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Hi all, I've just heard that Apple Corp had released a new variant of IPOD named IPhone. It's been said as IPod integrated with sophicticated phone and internet function. To be honest, i still had a fog on my eyes regarding this. Sorry, I'm no too update with any Apple product. Has anybody have one of this so-called IPhone thing? Please tell me your review on it. Who knows after reading all your review I becoming one of billion Apple Mania. LOL Thank's in advance