Apple has timed its entry into the mobile phone market "with precision" according to Piper Jaffray analyst, Gene Munster.

Munster has released an extensive report on the new Apple iPhone to clients, speculating that the price of the device will fall to around the $399 mark.

He also believes the iPhone's exclusive US carrier, Cingular, will see strong benefit from its association with Apple, principally in terms of attracting new customers.

"We believe the Cingular will be aggressively attracting new subscribers during the launch of the iPhone by reducing service fees and announcing discounts to iPhone customers," Munster wrote, according to AppleInsider.

The analyst speculates Apple will release new model iPhones "rapidly", introducing both lower- and higher-end products at different prices to address different price points.

Munster also expects Apple to release new model iPhones by the time it reaches the European markets in late 2007. He expects new devices to support different mobile network technologies, such as 3G, which are widely used in Europe.