"Our latest channel checks point to a significant production build of a 3G iPhone beginning in the month of June after an initial small build in May," he said.
AT&T said last year it expects to be able to sell a 3G version of iPhone in 2008, but it declined comment on specific launch dates on Friday.
Craig said that now he expects production volume to be much higher than his previous estimates. He said Apple planned to build more than 3 million high-speed iPhones in May followed by more than 8 million in the third quarter of the year.
Apple is holding a developer conference in June and it is possible to launch the new 3G iPhone around that time.
Apple has said it expects to have sold 10 million iPhones by the end of 2008.