The iPhone has really been catching a lot of consumer attention and appears prime to take top dog status in the mobile phone industry. However, if these researchers are to be believed, it seems iPhone needs more than hype to scale to the top.

IDC and Market Insight Corp conducted a survey among 456 individuals and a whopping 60% have expressed their interest in the product. However, the price of the unit along with the cost of switching carriers is a major deterrent to those who wish to pick up the gadget.

The survey showed that only 10% of respondents were interested in paying full price and signing a two-year contract with AT&T, the only carrier currently slated to offer the device. With AT&T not offering a subsidy for the iPhone, the product is said to retail for US$ 499 (4GB model) or US$ 599 (8 GB model). The number jumped to 18% if the iPhone were priced under US$ 299.

As most would know, the carriers in the U.S. normally lock their subscribers into a two year contract with huge financial penalties for early termination. The survey showed that 17% of the respondents have declared their intent to pick up an iPhone if it were offered by their current mobile carrier. The director of mobility research at IDC Shiv K. Bakhshi, Ph.D. spoke about the findings and the common stand of the market regarding it.

While the allure of owning the next 'cool' device will undoubtedly have early adopters Â? and die-hard Apple fans Â? queuing up to get the iPhone regardless of the price, the associated costs of ownership will persuade many others into a 'wait and see' position. Despite all the hype, there is little clarity on Apple's (and AT&T's) service plans for the device. This lack of clarity could adversely impact consumers' purchase decisions.

So what does this say about the iPhone? Will it be relegated to hardcore Apple fans only or will it actually live up to the hype it has generated? Be sure to keep checking back here for the latest updates on the iPhone.