Apple has now acquired the iphone.com domain name, reportedly for around US$1m. Michael Kovatch had the forsight to register the Domain Name way back in 1995 with the view that internet telephony would one day take off.

Rumour has it the acquisition cost Apple upwards of $1m. Kovatch has claimed that he truly wanted to use the domain, and was building a company upon it, with the domain apparently showing good potential due to rocketing traffic over the past 6 months.

4,000 IPhone domains have been bought this year and that another 4,000 will be bought before the year is done.