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Cupertino, CA -- Is Apple going to break up its relationship with Motorola to introduce its own iPhone in late 2006? The long-rumored product once again made headlines last week as analysts speculated on an upcoming product introduction.

Piper Jaffray analyst Gene Munster said there was a 75% chance that Apple would release an iPhone in the next 12 months.  And over the weekend, JPMorgan analyst Johnny Chan told Barrons that Apple is working on "an iPod with phone functions."

Most speculate that Apple will end up using Hon Hai Precision, a Taiwanese contract electronics manufacturer, to help them make it. Hon Hai already has contracts for the Power Mac G5 line and the iPod nano. (Dell, Intel, HP, Sony, and Cisco Systems are also rumored to be current Hon Hai customers.)

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