We believe that Android will give many phone makers their first access to software with full web browsing functionality, which the iPhone already offers ... Simply put, in our opinion, Apple is confident that its iPhone operating system is a compelling one, and developers will want to build applications for the iPhone ... [I]f the platform successfully proliferates to many devices and form factors, we do not believe Google will develop a mobile phone (hardware) product ... If the platform does not successfully proliferate, then Google may be forced to release a handset that exemplifies and displays the power of Android.

— Piper Jaffray analyst Gene Munster on the likelihood of a Googlephone.