HP Rival for iPhone?

Rumors are circulating that HP is prepping a new smartphone to take on the almost ubiquitous iPhone.

HP is keeping very quiet, but the rumors are going round that before the end of the year it will be launching its own smartphone to take on Apple’s king of the castle, the iPhone.

According to the Wall Street Journal, HP will add a handset to its iPaq line that’s aimed at consumers and feature a touch screen.

Several iPaq phones do feature Windows Mobile and a touch screen, but it requires a stylus, not a finger.