The iPhone 3G has been selling like hot cakes and it seems like it will sell even more in Q4. In fact, it is now estimated that Apple will be shipping 5 million units for Q4, which ends on September 30th.

This new estimate has Apple targeting 7.4 million iPhones before the holiday season even begins. Not too shabby, if you ask me. While this is a drop down from the previous estimate that had Apple producing 800,000 iPhones a week, it is still rather impressive.

So what does this all mean? Apple will need to sell 2.6 million iPhone 3Gs by the end of the year if they are to meet their original goal of 10 million phones sold. But the holidays always do wonders for sales so it’s still a very real possibility.

[via IntoMobile]