Rumors point to a new iPhone launch in June, and Apple’s next generation iPod/smart phone combo may pack lots of surprises including support for 42 Mbps wireless data speeds -- well beyond the limits of current offerings and even some broadband options. Those potential maximum speeds, however, probably won’t be available until the end of 2008, according to Channel News.

"We know what is coming we have seen the new device and it will be available on our network as soon as it is launched in the USA," a senior executive from Australia’s Telstra cell carrier said. "By Christmas this phone will be capable of 42 Mbps which will make it faster than a lot of broadband offerings and the fastest iPhone on any network in the world."

Assuming Apple and its cell carrier partners pull off this massive speed boost, it will translate into a big win for customers looking for as much bandwidth as the can possibly get when on the go. It also could spell trouble for other smart phone makers that are already starting to lose sales to Apple.

The promised turbo speed boost, however, is a tall order to fill. AT&T is currently completing a 3G upgrade that will offer users 1.4Mbps, far below Telstra’s proposed 42Mbps, and the U.S. carrier isn’t planning on completing its upgrade to 20Mbps wireless networking until some time in 2009.

AT&T’s current network upgrade status could mean that the 42Mbps data speeds may be limited, at least for now, to Telstra’s network in Australia. If so, that could make for a compelling excuse to move to the land down under.