Apple’s iPhone 4 is selling very well, but a new report suggests that even its older iPhone 3GS and first generation iPad often outsells newer devices running Android.

[ad#Google Adsense 300×250 in story]Canaccord Genuity technology analyst Michael Walkley said the iPhone 4 is by far the top selling device at AT&T and Verizon, according to a report on AppleInsider. For instance, checks at AT&T retail locations found that the $49 iPhone 3GS outsold the newer HTC Inspire and Motorola Atrix.

Verizon stores reported that the first-generation iPad sold out in under two weeks, after the iPad 2 debuted.

“Checks with stores found that new Android smartphones were largely gaining share from Windows 7 smartphones, but not the iPhone,” wrote Neil Hughes from AppleInsider. “Walkley also expects the iPhone to remain the top selling handset at Verizon throughout 2011 as upgrades continue, partially because the carrier is not allowing subsidies to customers that are still under a two-year contract.