One of my biggest knocks on the iPhone is that fact that it runs on AT&T’s slow EDGE network. Word on TheStreet.com, however, is that a 3G model of the iPhone could come out as early as Q1 next year.

The new 3G iPhone is expected to include features like global positioning for navigation services.
In fact, sources say Apple has tapped Broadcom’s Global Locate unit to supply chips for the phone.