A 3G iPhone may be on the way if rumors are correct that Apple (NSDQ: AAPL) has ordered 10 million of the high-speed devices. Gartner analyst Ken Dulaney told the iPod Observer that Apple may be making the move to 3G because it didn’t sell as many of the 2.5G iPhones in Europe as it wanted. A 3G version of the iPhone will be critical as customers want to use higher-bandwidth applications. It will also decrease the user’s reliance on Wi-Fi.

Dulaney said he heard about the order from Asia, where Apple got its first 10 million phones based on the 2.5G or EDGE technology. Apple expects to sell those by the end of 2008. The newest order is for 10 million more devices, this time running on 3G. In addition, Dulaney said the 3G iPhone may use an Organic Light Emitting Diode (OLED) display, which could make the phone thinner and improve battery life. Rumors on the new 3G order also corresponds with a shortage of iPhones in New York. The Huffington Post reported that all three Apple stores in the Big Apple, are sold-out. Of course, an iPhone can still be found online or at AT&T (NYSE: T) stores.

Barron’s said that these moves are causing Apple’s stock to move today. This afternoon, Apple jumped 2.5 percent, or $3.52, to trade at around $144.56 a share.