Regardless of  the lawsuits and what the critics and analysts said, a lot of people we're thrilled when Steve Jobs finally took the wraps off from the Apple iPhone. Well-off consumers are not the only ones who are happy about this development, the $1 billion accessories market also embraces this as good news as the iPhone poses a new opportunity and challenge for them.

Even if Apple carry its own line of cases and other accessories, no one can deny that the third party accessory makers are basking in financial success thanks to the success of Apple products, specifically the iPod. Now, they are ready to work and earn their paycheck with iPhone accessories. Andrew Green, VP for marketing and design of Digital Lifestyle Outfitters said that the iPhone and its specs are  the "the worst kept secrets in the industry," and as a result, most had already begun working out design and development ideas way before it was unveiled.

Scott Huskinson, CEO of iFrogz, another iPod case maker mentioned that when it comes to making and developing accessories for the iPhone they "are not privy to the specs...But the rumors were out there about the touch screen and bigger display. The important thing is to get the specs right."

Indeed, third part accessory makers are watching Apple's every move.