Time magazine recently named the iPhone invention of the year so it's perhaps not suprising that Apple's mobile has also been awarded the top slot in their "Gadget of the Year" list too.

The mag was full of praise for the iPhone, although did point out the EDGE browsing experience can be "painfully slow".

"The iPhone changed the way we think about how mobile media devices should look, feel and perform. The design is exceptional inside and out: It's got a slick glass-and-stainless steel case and an elegant touch screen loaded with eye candy."

The rest of the list was as follows:

2. Nikon Coolpix S51c
3. Netgear SPH200W Wi-Fi Skype Phone
4. Palm Centro
5. Sony Handycam HDR-CX7
6. Samsung P2
7. Toshiba Portégé R500-S5004
8. FlyTech Dragonfly
9. Iomega eGo Portable Hard Drive
10. Belkin N1 Vision Wi-Fi Router