Or Apple could pursue a path similar to the one forged by traditional wireless phone makers, and sell its iPhone through the carriers - an option that probably doesn't appeal to Jobs, but gives him an opportunity to reach the largest possible number of U.S. consumers. But no matter how Apple decides to enter the wireless phone market, it is sure to change the status quo.

Here's why: Today, phone companies heavily subsidize handsets in exchange for long-term commitments from customers. That Nokia (Charts) phone you got for free from Cingular obviously cost the phone company something - probably hundreds of dollars - to buy from Nokia. Cingular, in the meantime, can make all kinds of demands of Nokia: It can ask for special packaging, prominent logo placement, etc.

This system drives Nokia and other wireless device makers crazy. First, it devalues the phone: Here you have what is essentially a handheld computer with more processing power than the first PCs, and consumers expect to get it for free. It also means the device maker has less control over how it can market and merchandise its products, a pretty unique position in the world of consumer electronics: Imagine if Dell couldn't sell laptops and desktops directly to consumers but instead had to sell them through Comcast, AT&T (Charts) or other broadband providers.

This is where Apple comes in - and why Nokia, Motorola (Charts), Samsung and LG might be secretly rooting for the iPhone to be a minor hit. Apple seems uniquely positioned to convince consumers to pay a premium - not demand a discount - for wirelessly connected devices, thus changing the economics of the wireless industry. Put another way: If a consumer is willing to pay $250 for an iPod Nano, why wouldn't she pay even more for a Nano that can make phone calls?