European iPhone carriers are facing ?significant losses? on unsold first-generation iPhone stocks as they attempt to clear shelves for the arrival of the 3G model, according to The Times Online, which reports that both O2 in the UK and T-Mobile in Germany overestimated the number of iPhone units that would sell in Europe. Kathryn Huberty, an analyst with Morgan Stanley, said losses on the early model would be ?significant??

	Read more at iPod Lounge
	feeds.feedburner.com/~r/ilounge/~3/273040661/