Apple's heavily promoted iPhone ended 2007 as what one analyst calls the fastest-growing consumer electronics product ever. And research analysts expect sales to top Apple's projections for 2008.

But don't look for a new model early this year, analysts say. Apple historically makes new-product announcements at the Macworld conference, scheduled this year for Jan. 14. Many fans are looking to Apple CEO Steve Jobs to introduce a new, possibly smaller iPhone.

Independent analyst Richard Doherty of the Envisioneering Group believes upgrades will be offered for the existing iPhone, including access to a faster Internet network and an improved battery.

Apple declined to comment.

While the iPhone received rave reviews for its style and functionality, critics complained about the speed of Apple partner AT&T's data network.

The iPhone is a combination iPod, cell phone and portable Internet device.

AT&T has said it would bring faster service to the iPhone in 2008.

Additionally, Apple has said it would open the iPhone to outside software developers in February, which could turn the iPhone into a more versatile device. Doherty expects to see previews at Macworld. "You'll see Apple working with financial institutions to turn the iPhone into something like an electronic credit card," he says.

Doherty pegs total iPhone sales at 3 million units.

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