Which iPhone? Version 4? Of course not. 3GS? Have a look at N900. The hardware is pretty much comparable, with N900 being slightly better in many categories. More memory, 32GB storage in every model, twice the screen size, additional flash memory, 2MP more on the camera. Actually the only place where iPhone wins completely is the multitouch screen.
So out of 4 released iPhones, only the most recent one is definitely better than N900.