AT&T sell out of iPhones but Apple still said it has plenty of stock

AT&T says that it has virtually sold out of all its initial stock of Apple's new iPhone following its launch on Friday.

The news however is a very different picture for Apple with virtually every one of its stores across the US from New York to Seattle boasting stock.

The news will come as a shock to some fans of the new mobile phone who queued for days braving the cold and rain to get their hands on the latest gadget.

"Virtually all of our stores sold out of the iPhone last night", AT&T spokesman Mark Siegel said, declining to specify how many units had been sold told Reuters.

However customers who opt to buy the phone online from the Apple store in the US, will have to wait between 2 to 4 weeks before getting the new device.

AT&T says that it is still taking orders for the phone and offering to ship the mobile to customers who place an order.

Apple has yet to announce day one sales, however an announcement is expected sometime next week as to how well the phone has sold.

Apple said it hoped to sell 10 million iPhones by 2008 and grab itself a 1% share of the mobile phone market, a considerably small number compared to music phones sold by Sony Ericsson and Nokia.