Shortly after receiving FCC approval, Apple has announced a June 29 release date for its highly anticipated iPhone.

The release date was announced in three ads displayed on Apple's website. 

Apple CEO Steve Jobs has set a goal of selling 10 million iPhone units by 2008, according to a Bloomberg report. But for now, the company is expected to limit initial sales.

Many mobile experts point to the rise of the iPhone as a crucial next step in building the growing mobile ad market.