In what could be yet another sign that Apple is preparing to launch new iPhone models, British cell carrier O2 has just completed a project to extend the reach of its 3G wireless data network coverage. O2’s 3G coverage now reaches at least 80 percent of the population it services, which also brings the company in compliance with Ofcom regulations, according to The Guardian.

O2 had been lagging behind T-Mobile, 3, Orange and Vodafone in rolling out its 3G network and had been focusing on extending its EDGE coverage to better meet the needs of current iPhone users.

While O2’s 3G coverage project does coincide with the rumored pending launch of a 3G-enabled iPhone, it also just beats a deadline imposed by Ofcom. The regulator had mandated that all five-year license holders offer 80 percent 3G coverage by the end of 2007 -- a deadline that O2 missed. The cell carrier was given until June 30 to complete its rollout or face losing four months off of its license.

Analysts have been predicting that Apple would announce new iPhone models with 3G support in June, which is the same month that iPhone Software 2.0 and the App Store, Apple’s third party application distribution system, are set to launch.

Carphone Warehouse and O2 have sold out their iPhone inventories and are not replenishing their stock, adding a little more credibility to the pending 3G iPhone launch rumors.

Apple and O2 are not commenting on when new iPhone models will ship.