I'd recommend doing some research on the usage of "i-pod" vs. "ipod". This way you can predict wether or not the dash is going to be a problem. Because as you might know, the name iPhone officially doesn't contain a dash.
My opinion:
If I look at the iPod it's a very interesting product, also for making money (see accessories, etc). I also some people write i-pod instead of ipod. So this will probably happen for the iPhone too.
However, I don't think .IN is a very good extension like explained above. Ofcourse you can still use it globally but in that case I think there are better .COM-names available. (*iPhone.com, iPhone*.com, or even *i-phone.com, i-phone*.com).
Looking at the name from a usability perspective I don't think it has a great value. I'm not sure about the SEO perspective since I don't know a lot about it, but I do think the SEO value will make or brake this domainname.