No, actually the iPhone came first since it was apples' first phone product and then the iPod Touch was created; which would be a similar product but just not a phone. I'm actually using my iPod Touch right now. :] (Cotton.Music8)
I think Ipod touch.
I agree with Cotton.Music8. The iPhone was created first and than the iPod Touch was the resulting product. Since, not everyone wanted to pay for the data plan or they already had a phone, apple decided to make the iPod Touch. The iPod touch was the exact same thing as the iPhone, but (as said above) without the phone part. This allowed people to enjoy all the features of the iPhone without having to pay the data plan.
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Source Wikipedia (gleaned from many articles)
1998-08-15 - iMac - classic Mac OS 8
2001-01-09 - iTunes on iMac - classic Mac OS 9
2001-10-23 - iPod 1st Gen - PortalPlayer 5002
2007-06-29 - iPhone - iPhone OS 1.0
2007-09-05 - iPod Touch - iPhone OS 1.1
2010-04-03 - iPad - iPhone OS 3.2