In a research note on Tuesday, analyst David Bailey advised clients that his Far Eastern contacts have lead him to believe that “Apple has several important new products lined up for 2008,” though none of them are expected to pack the same punch as the company’s inaugural iPhone handset.

Among them is a second-generation iPhone currently in the “final design phase,” the analyst said. The handset is expected to “have a similar form factor as the current version although it could have a different look and will probably include 3G capability.”

Bailey estimates that the next-gen iPhone will launch sometime during the second half of the year, but also believes the company will tie over consumers with “a smaller upgrade with more flash memory earlier in the year.”

Meanwhile, the analyst’s Asian contacts have also led him to believe that “Apple will be making changes to Apple TV” sometime in the second half of 2008 “which could include an LCD display.”

Keep reading at appleinsider.com

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