According to Business Standard that telecom operator Vodafone will release the 8GB iPhone in India. The release is planned for first week of September.  The 16GB version will be launched some time in 2009. According to Apple retail source the 8GB version will be priced between Rs 27,200 and Rs 28,000. An Apple source said, “The carrier deal for India is being worked out with Vodafone. Vodafone could also become the carrier for the Australian market once iPhone is launched there, though more than one carrier is likely for Australia.” It is estimated that with in next three years Indian mobile market will double to 500 million, as it is one of the fastest growing mobile market in the world. To get a big chunk of the growing market Apple should entry the market soon and it should offer varying iPhone models for different price segments.