Australia is in the grip of an iPhone shortage, with phone carriers sold out of the new model and Apple admitting it can't produce enough to meet demand.

The iPhone 3GS launched in Australia on June 26, but all five telecommunications carriers with the device have sold available stocks.

On its website, Telstra blamed a "global shortage of iPhone models", while other carriers claim they will not receive new shipments of the device for at least two weeks.

Even 3 Mobile, which started selling the new iPhone just two weeks ago, has sold out.

An Apple spokesman said the company would continue to ship iPhone 3GS units to carriers as they became available, but Apple chief operating officer Tim Cook admitted that the company could not keep up with the "tremendous" demand.

"We are currently unable to make enough iPhone 3GSs . . . and we're working to address this," he said in a statement.