The Apple (NASDAQ: AAPL) iPhone is not selling up to expectations in the UK. According to the Financial Times, "O2 said shortly before the iPhone's UK launch on November 9 that it expected handset sales of 200,000 in the first two months, but people familiar with the situation said the actual figure for the first eight weeks was about 190,000." But, a number of analysts viewed sales estimates from O2, the exclusive iPhone reseller in the UK to be very conservative. Estimates by research firm Gartner were as high as 400,000.

The reason for the slow sales may be the pricing of the iPhone and its calling plan. The handset plus a minimum contract cost about $1,700.

If the news were in a vacuum it might not sting. But, just a week ago China Mobile (NYSE: CHL) said it had cut off conversations with Apple over distributing the product in China, the world largest cell market. The price of the calling plan Apple wanted to market in the world's most populated nation may be been a sticking point.

If sales in the UK and Europe do not begin to exceed expectations and an Asian roll-out is slow, that leaves the U.S. to carry the burden of Apple hitting its 2008 sales targets.

That may be a little too much to expect.

Douglas A. McIntyre is an editor at 247wallst.com.