Apple has announced that it will release the much-hyped iPhone to US consumers on 29 June. 

The company made the announcement with a series of TV commercials aired on Sunday night. 

The exact release date of the iPhone, which will be distributed in the US by AT&T, has long been the subject of speculation. 

Apple chief executive Steve Jobs unveiled the iPhone at the Macworld Expo in January, stating that it would hit the shelves in June. An exact date, however, had not been given until the ads were shown on Sunday.  

Speculation on the iPhone has been so intense that when a Mac rumour site reported that the device was being delayed until October, Apple's market capitalization temporarily dropped by nearly $4bn.

The possibility of a delay for the iPhone emerged when Apple revealed that it had to divert developers from its Mac OS 10.5 Leopard development team in order to keep the iPhone on track.

The move caused the expected release of Leopard to be pushed back by four months.  

Apple plans to release the iPhone in Europe by the end of 2007. The company has yet to announce a carrier or pricing for the European version.