It will be white, and its shape will be similar to the E398 model.
The E398 is already able to play MP3 files and is featuring 2 stereo speakers. It is also equipped to receive Transflash memory card. The iPhone will be shipped together with a 512MB Transflash card (one can find 256MB Transflash card for 50€)
In 2006, Motorola is planning to propose a iPhone model sporting a 1GB 1"HD.
The story is to be continued on Tuesday :)
[update] It is possible to buy (in Europe) a network-free Motorola E398 phone for around 200€ (but its Transflash card has only 64MB)
Knowing that this price is originating from "brokers", and that Apple/Motorola will propose the iPhone with a 512MB Transflash card and at least a headphone, the iPhone price should be around 350 to 450 €.
