Apple's iPhone has been declared Time Magazine's 'Gadget of the Year', while also winning plaudits as the 'Most Memorable New Product Launch of the year' from Schneider Associates, in partnership with comScore.

As first reported by iLounge, Schneider Associates (with comScore), has published its list of the most memorable new product launches of 2007. iPhone was namde the most memorable launch of 2007, generating the most widespread public awareness of any product introduced in the year.

37 per cent of 1,000 respondents named the iPhone in the top three of product launches they remembered, eclipsing Windows Vista, which took second place.

Time Magazine's annual 'Gadgets of the Year' list is led by iPhone, causing the magazine to say the device: "Has changed the way we think about how mobile media devices should look, feel and perform," observing the device to be "loaded with eye candy."