The perfect storm for the second coming of the iPhone seems to be brewing. With the WWDC ‘08 Conference next week and the expected announcement of a new upgraded iPhone, there has been a lot of speculation about what the new iPhone will provide and when it will be released.

As it stands, it’s almost a 100% certainty that a new iPhone will be released next week with support for 3G, a faster cellular data network. AT&T, the US provider with exclusive rights to the iPhone, is expected to have completed a major upgrade to its network to support 3G in the next week or two which makes the timing even more likely that the new iPhone will have 3G capabilities. A number of foreign companies with iPhone rights in their respective countries are already advertising future availability of a 3G iPhone.

Additionally, it seems likely that the iPhone will have integrated GPS. It’s believed that the chip in the next phone has a GPS chip built in. Location-awareness is a requirement of the government for cell phones these days and the iPhone has support for triangulation but GPS would be more accurate. Location awareness also leads to some really innovative possibilities. I’ve wanted a GPS unit for awhile so an integrated device would be excellent.

Another persistent rumor has the phone being released at a lower price point. The number floating around is $200 which, in the marketing world for gadgets, is a sweet spot for consumers. It’s possible this reflects a subsidy by AT&T to build market share.

The Apple iPhone Application Store is expected to be enabled during WWDC next week. This will allow people to get applications for their iPhone, making it a true smart phone. An always-on, location aware mobile phone with mass appeal for $200 is guaranteed to be a huge hit and the potential is huge for some really interesting applications.

I’m definitely in the market for a new phone as my RAZR is as worthless as it is stylish. If some or all of the above turn out to be true, I’ll be one of the first in line next week.