Apple’s new iPhone 4 shattered past sales records for the company, managing to sell 1.7 million units on its first day of release. A week later, people are still lining up for a chance to get one. Those are definitely impressive sales figures, but how much more would they have sold if they actually had enough supply to meet the demand?

Some industry experts believe that they could have shipped between 2 and 2.5 million units if they would have had enough units on hand to meet the demand. It is predicted that 9 million iPhone 4’s will be sold in the June quarter of 2010 alone, and that sales could top 40 million units by the end of the year.

Some other industry pundits are calling this a great opportunity for Apple’s competitors in the smartphone market. People are eventually going to get sick of waiting, and make look to different models to get their smartphone fix.

Of course it is possible that some potential customers might forego the latest iteration of the iPhone simply because they are unable to purchase one, but how much will this hurt Apple’s bottom line? For the most part, the people who have waited this long for an iPhone are probably going to wait a bit longer to ensure they get one.