AppleCare Protection Plan for iPhone?

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I wonder if Apple will offer an AppleCare Protection Plan for the iPhone, as I would be interested in buying an AppleCare Protection Plan for my iPhone to secure it.

What do you all think? Surely Apple will release something of the sort for the iPhone.
 
It's possible, but as AppleCare doesn't cover accidental damage (i.e. you drop the iPhone and it breaks) it won't cover most of the problems that users have with cell phones.
 
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