Apple to see near 50% gross margin on each iPhone sale

AppleInsider is reporting that Apple to see near 50% gross margin on each iPhone sale. I'm not entirely stunned by this report as Apple has always charged a premium for their computers and iPods. If you saw the keynote, you might have heard Steve Jobs say that all they were hoping to do was capture 1% of the cellphone market. Some analysts believe Apple could sell 12 million of these devices. If they only sold 10 million of the devices in their first year, that means there would be a profit of somewheres around $2.5 billion dollars if my math is correct. That's a chunk of change.