Apple yesterday began showing television commercials which revealed the iPhone will launch on June 29. A 4 GB model will be available for $499 and an 8 GB model will cost $599. Purchasing either device will require a new (or renewed) two-year contract. Apple expects high demand for the iPhone, but will not allow the devices to be pre-ordered. The iPhone will only be sold on a first-come, first-served basis at Apple and AT&T retail stores.