With much speculation about Apple’s iPhone 3.0 software update coming this summer, Best Buy is said to have dwindling stock of the iPhone 3G, according to AppleInsider. It has been reported that the 16GB iPhone is in the process of being deleted in Australia. As far as the US goes, we have little time.

We spoke with Best Buy Mobile Sales Consultant Joel Gembala, who told us that the two phones are currently active, but are close to leaving their shelves. He said that they would stop receiving shipment of the 8GB iPhone on November 22 of this year, and September 28, 2010 for the 16GB version.

Typically, Apple releases major iPhone software in conjunction with new hardware. Leading up to a rumored release, demand for "older" phones decreases.  

Digitimes reported that shipments of circuit boards for the new iPhone are on its way from five Taiwan-based printed circuit board (PCB) makers for a June announcement.

The newest iPhone is expected to be announced at the WWDC keynote on June 8.